How employers are being caught out by the timing of superannuation guarantee payments. Read on for the Super Guarantee timing trap for employers! Employers can generally only claim a deduction for superannuation contributions in the income year in which the contribution is made. Super contributions are made when the payments are received by the trustee…
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Employees with numerous employers can now opt-out of superannuation guarantee from all but one employer. What does this mean, exactly? Keep reading for Super Guarantee opt-out for employees with multiple employers. Employers are required to pay 9.5% superannuation guarantee for all eligible employees. But what happens if you are an employee with multiple employers? Until…
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From 1 July 2020, new rules will come into effect to ensure that an employee’s salary sacrifice contributions cannot be used to reduce the amount of superannuation guarantee (SG) paid by the employer. For calculating super guarantee: the new rule, read on! Under current rules, some employers are paying SG on the salary less any…
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