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Showing 1 - 10 of 441 results for "Superannuation Guarantee"

Objective of super enshrined in law

JAMIE WILLIAMSON  |  FRIDAY, 29 NOV 2024
... objective comes 32 years after the establishment of compulsory superannuation and the creation of the Superannuation Guarantee and was first recommended by the Financial Systems Inquiry in 2014 and reinforced in the Retirement Income Review of 2020. ...

ATO recovers $900m in unpaid super

JAMIE WILLIAMSON  |  WEDNESDAY, 20 NOV 2024
... action by the tax office. In the past year, the ATO proactively contacted about 167,000 employers who owed Superannuation Guarantee payments and prompted them to pay. This is up 24% on the previous year. ATO deputy commissioner Emma Rosenzweig said more ...

Outdated super rule costs teens $10k at retirement

MATTHEW WAI  |  TUESDAY, 12 NOV 2024
... group's Guaranteeing a Super Start to Work report reveals that about 505,000 teenage workers are denied Superannuation Guarantee contributions, which equates to about $368 million in total super contributions a year. Under current legislation, workers ...

Liberal MPs slammed for 'dangerous' super policy

ELIZA BAVIN  |  WEDNESDAY, 16 OCT 2024
... Income Super Tax Offset (LISTO), paying a tax penalty that high income earners are not paying on their Superannuation Guarantee contributions. Realigning the LISTO is a key fairness ask. "Women in Super would like to see this fixed by the amount of the ...

Insignia Financial to trial four-day work week

JAMIE WILLIAMSON  |  FRIDAY, 11 OCT 2024
... and there will be guaranteed funding for a discretionary pool. Insignia Financial will also increase superannuation guarantee contributions for staff. Parental leave entitlements are being increased from 12 weeks to 16 weeks, severance pay will increase ...

Super to be paid on parental leave from July 2025

JAMIE WILLIAMSON  |  THURSDAY, 19 SEP 2024
... morning. Parents receiving payments from the Commonwealth Paid Parental Leave scheme will begin receiving Superannuation Guarantee contributions from 1 July 2025, with the bill passing through the Senate this morning. Under the legislation, those who ...

Payday Super penalties ramped up ahead of legislation

JAMIE WILLIAMSON  |  WEDNESDAY, 18 SEP 2024
... misses out on $1800 in super each year, or $30,000 at retirement. Under the changes, an individual's Superannuation Guarantee (SG) contribution must be received by their super fund within seven days of their wage or salary being paid. If an employer ...

Aussies unprepared to manage retirement income

ANDREW MCKEAN  |  THURSDAY, 12 SEP 2024
... literate - managing bills, mortgages, credit cards, and saving for expensive items like holidays - and the Superannuation Guarantee has made the accumulation stage of retirement saving far easier, the report noted that a lack of retirement literacy ...

Super on parental leave bill hits parliament

JAMIE WILLIAMSON  |  THURSDAY, 22 AUG 2024
... minister Amanda Rishworth, following the government's announcement in March that it would begin paying Superannuation Guarantee (SG) contributions alongside the parental leave payments. Under the legislation, those who take paid parental leave will ...

ASFA pushes for tax redistribution to benefit low-income workers

ANDREW MCKEAN  |  FRIDAY, 9 AUG 2024
... super, delivering pay day super, and super on paid parental leave," Jones said. He also noted that the superannuation guarantee increased on July 1 this year, which he said will automatically result in young people retiring with more than $20,000 in ...
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