If you missed the latest SG due date, you need to get your super obligations back on track and lodge an SGC statement. Employers play a critical role in ensuring the future financial security of employees through paying Super Guarantee (SG) contributions to the right fund and at the correct rate. The most recent due…
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Find out information on your employees final pay and superannuation when you close a business. When you Close or Sell Your Business Your business must continue to meet its obligations until it is either closed or sold to the new owners. If you are an employer, it is important for you to consider finalising important tax…
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If you’re new to Australia’s superannuation system for retirement saving, find out how it works and how to benefit. Super is an Investment in Your Future Australia’s superannuation system is the main way most people save for their retirement. Superannuation (super for short) is a long-term investment that grows over time. The more you contribute…
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Super guarantee contributions for the quarter ending 30 June were due to eligible workers by 28 July. If you missed the due date, didn’t pay the right amount, or didn’t pay to the right super fund, you’ll need to: The SGC statement can help you calculate the SGC. If you don’t lodge your SGC statement by the…
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“Hi, I’m Rebecca, director for Superannuation and Employer Obligations at the ATO. We understand that as employers you play a vital role in Australia’s tax and super system, and paying super is a very important responsibility. It’s important that you make super contributions for your eligible employees and contractors on time, in full and to…
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As an employer you play a vital role in Australia’s superannuation system. But being an employer also means you have superannuation obligations you need to meet. So let’s walk through these super obligations so you can avoid additional paperwork, charges or penalties. When hiring a new employee, you must offer them a choice of super…
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Use this checklist to review the health of your super in 5 easy steps. Why you should review your super Your super is one of the biggest assets you’ll accumulate in your lifetime. However, many Australians think they don’t need to worry about their super until retirement. Some don’t think about it at all. It’s…
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There is $16 billion in lost and unclaimed super across Australia, new data from the Australian Taxation Office (ATO) reveals. This is an increase of $2.1 billion since last financial year and the ATO is urging Australians to check their account to see if some of the money is theirs. Deputy Commissioner Emma Rosenzweig said finding lost…
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The Council of Financial Regulators (CFR) is the coordinating body for Australia’s main financial regulatory agencies – APRA, ASIC, the RBA and The Treasury. In 2014 the Financial System Inquiry recommended the removal of the exception from superannuation funds, allowing limited recourse borrowing arrangements (LRBA), more commonly known as an SMSF loan. In 2015, The…
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The ATO has released new information for individuals who need to access their superannuation early on compassionate grounds during the Christmas shutdown period. The ATO offices will close from midday Friday, 24 December 2021, reopening on Tuesday, 4 January 2022. The ATO said that for those who need a compassionate release of super determination before…
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