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Showing 1 - 10 of 436 results for "Superannuation guarantee"

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 ...

ATO seeks submissions on defining an 'employee'

ELIZA BAVIN  |  WEDNESDAY, 3 JUL 2024
... ruling TR 2023/4 for consultation which determines when a person is considered an employee under the Superannuation Guarantee (Administration) Act 1992 (SGAA). The draft update will bring into the tax ruling the ATO commissioner's views on when a ...

Ageing Australians rapidly shifting retirement planning

ELIZA BAVIN  |  WEDNESDAY, 19 JUN 2024
... their savings or because it is eroded by external factors like inflation or market volatility. "Since the Superannuation Guarantee was introduced in 1992, Australians have gained a decade of life expectancy. That's an extra 10 years to fund, an additional ...

More businesses fold, unpaid super recovery measure to launch

KARREN VERGARA  |  THURSDAY, 6 JUN 2024
... in a return of advances made under FEG as and whether the claims will result in a better recovery of superannuation guarantee charge (SGC)." The Australian Taxation Office (ATO), however, remains the priority creditor for outstanding SGC in insolvent ...

MIESF adjusts insurance premiums

ANDREW MCKEAN  |  MONDAY, 3 JUN 2024
... restricted to half of the cover amounts until one year after MIESF receives an eligible member's first Superannuation Guarantee (SG) contribution; weekly cost remains unchanged. MIESF said it aims to provide eligible members with appropriate and affordable ...

Industry reacts to Federal Budget

ELIZA BAVIN  |  WEDNESDAY, 15 MAY 2024
... found that paying superannuation on paid parental leave combined with the legislated increases in the superannuation guarantee and duration of paid parental leave to 26 weeks will lead to an increase in superannuation balances at retirement of around ...
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