Series3: What changes on 1 July 2021? ; New stapled superannuation employer obligations for new staff Currently, when an employer hires a new staff member, the employee is provided with a Choice of Fund form to identify where they want their superannuation to be directed. If the employee does not identify a fund, the employer
Series2: What changes on 1 July 2021? - Concessional and non-concessional contribution caps From 1 July 2021, the superannuation contribution caps will increase enabling you to contribute more to your superannuation fund (assuming you have not already reached your transfer balance cap). The concessional contribution cap will increase from $25,000 to $27,500. Concessional contributions are
Series1: What changes on 1 July 2021? - Super guarantee rate increase to 10% On 1 July 2021, the Superannuation Guarantee (SG) rate will rise from 9.5% to 10% - the first rise since 2014. It will then steadily increase each year until it reaches 12% on 1 July 2025. The 0.5% increase does not
Super due is on 28 October 2020 Employers: Your next super guarantee payments are due to your employees’ super funds by Wednesday 28 October. If you’re having difficulty meeting your super obligations because of COVID-19, contact us to discuss your situation and the options available on 1800 806 216. For more information on super guarantee
Superannuation guarantee amnesty Superannuation guarantee amnesty has been ended on 7 September 2020. Brief about Super amnesty: -. You had a chance to pay out for the unpaid super liabilities for missing super obligation in past years. -. In General, You can not claim unpaid super liability for your business deductions. -. AND late payment