With the holiday season fast approaching, employers are reminded that many holiday casuals may now be eligible for super. From 1 July 2022, employers need to pay super for employees at a rate of 10.5%, regardless of how much they are paid, because the $450-per-month threshold for super guarantee eligibility has been removed. This change…
The Superannuation comparison tool, YourSuper, has been updated. The tool helps individuals compare MySuper products and choose a super fund that meets their needs.
A recent court ruling shines the spotlight on superannuation entitlements for contractors and the need for employment relationships to be considered carefully for superannuation guarantee purposes.
The ATO will target SMSFs that fail to lodge annual returns or ignore ATO reminders with a targeted compliance campaign.
Employers need to be aware of two important superannuation changes from 1 July 2022.
Individuals can now re-contribute amounts they withdrew under the COVID-19 early release of super program without the re-contribution counting towards their non-concessional contributions cap.
Employers are reminded that their Superannuation Guarantee obligation for the 1 January 2022 to 31 March 2022 quarter is due by 28 April 2022.
Multiple changes to superannuation legislation are now in place and the ATO has put Trustees of SMSFs on notice in relation to record keeping. If you are unsure of your obligations, it’s important to seek advice.
Employers may soon need to do something extra when a new employee starts to work for them.
From 1 July 2021, the superannuation contributions caps have been indexed for the 2022 income year.