Co-Invest now called Leave Plus is an industry fund that administers long service leave for workers in the construction industry in Victoria. Co-Invest is a legal obligation for employers and penalties apply to businesses that fail to comply, as Co-Invest is governed by the Construction Industry Long Service Leave Act 1997. Co-Invest is a compulsory requirement for all kinds of building work including new builds, renovations, installations, maintenance and repair work.

 

Co-Invest also covers a number of industries such as:

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• Plumber

• Bricklaying

• Carpenter 

• Concreter

• Painter

• Plasterer

• Landscape gardner (excluding domestic & garden maintenance)

• Labourer

• Roof Tiler

• Electrician 

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Apprentices are covered by the Co-Invest scheme, although as an employer you don't have to pay contributions for apprentices, they need to be registered with the scheme and have their working and school days are recorded. You don't have to pay Co-Invest for genuine subcontractors, as they can make their own contributions if they wish to do so.

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Jeffkins Accountancy & Business Solutions have been helping our clients with lodging their Co-Invest reconciliations, please contact us today if you would like our help in meeting your Co-Invest obligations.