Welcome to our comprehensive guide on payment schedules at InvestorKit. This article outlines when and how employees and contractors receive their salary, bonuses, commissions and superannuation payments. Whether you're a full-time employee or a contractor, you'll find all the essential information about payment timing and processes here.
Employees
Salary is paid on the 12th of each month, in arrears, with bonus (if applicable to your role/contract) being paid half yearly within your January & July pay cycle.
Bonus is paid based on performance within the last 6 months -
0% - Did not meet expectations
50% - Meets Expectations
100% - Exceeds Expectations
If your role includes a commission structure, you are required to email our accounts team via accounts@investorkit.com.au on the first business day of each month with your commission breakdown for the previous month (more information on what this breakdown should look like will be within your role playbook).
Contractors
Commissions are paid monthly during the 2nd week of the month. All contractors are required to email our accounts on the first business day of each month via accounts@investorkit.com.au with their invoices highlighting the commission to be paid for the previous month (more information on what this invoice should look like will be within your role playbook).
Super Payments
As per Accounts Team advice this has now changed to: Super payments will be made monthly in line with payroll.