Workers are owed over $3.6 billion in superannuation guarantee according to the latest Australian Taxation Office estimates – a figure the Government and the regulators are looking to dramatically change. Superficially, the statistics on employer…
A series of reforms and changes will commence on 1 July 2022. Here's what is coming up: For business Superannuation guarantee increase to 10.5% The Superannuation Guarantee (SG) rate will rise from 10% to 10.5%…
Super guarantee rate increase to 10% On 1 July 2021, the Superannuation Guarantee (SG) rate will rise from 9.5% to 10% - the first rise since 2014. It will then steadily increase each year until…
Employees with multiple employers can now opt-out of superannuation guarantee from all but one employer. Employers are required to pay 9.5% superannuation guarantee for all eligible employees. But what happens if you are an employee…
How employers are being caught out by the timing of superannuation guarantee payments. Employers can generally only claim a deduction for superannuation contributions in the income year in which the contribution is made. Super contributions…
The Government has resurrected the Superannuation Guarantee (SG) amnesty giving employers that have fallen behind with their SG obligations the ability to “self-correct.” This time, however, the incentive of the amnesty is strengthened by harsh…
The February 2019 Parliamentary sitting days were the last opportunity before the Federal Budget for the Government to introduce or push through new legislation. Next month, on 2 April, Parliament reconvenes for the Federal Budget…
