Superannuation Alert – Rule Change
On 1 January 2020 new superannuation rules were introduced in relation to how the 9.5% superannuation guarantee applies when an employee enters into a salary sacrifice arrangement.
Superannuation
Unpaid Superannuation – Employer Amnesty… Don’t miss your chance!
Legislation passed both houses of parliament on 24 February 2020, which allows employers a one-off amnesty for outstanding superannuation entitlements. Employers who have not paid their workers their superannuation entitlements will be given an amnesty of 6 months from the date of royal assent to rectify this issue.
When too much in super contributions costs you more tax…
There are caps on the amount you can contribute to your super each financial year to be taxed at lower rates. If you contribute over these caps, you may have to pay extra tax.