Detailed Outline
Under the Commonwealth Superannuation Guarantee Administration Act 1992 the employers are required to make Superannuation Guarantee contributions on behalf of any employees who earn more than $450 in a month. The rate of contributions will increase from the current rate of 6% to 7% starting from 1 July 1998 to 30 June 2000. Employers who fail to provide the minimum level of support are penalised by having to pay the Superannuation Guarantee Charge to the Australian Taxation Office.
Employers must consider the increment of 1% in Superannuation Guarantee contributions from 6% to 7% and along with leave loading of 1.35% when calculating the notional package for job advertisements.
C. Gellatly
Director-General
Overview
Compliance
- Not Mandatory
AR Details
- Date Issued
- Jun 13, 2014
- Review Date
- Jun 13, 2024
- Replaces
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- Replaced By
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Contacts
- Contact
- Contact us
- Phone
- 02 9228 5555
- Publishing Entity
- Department of Premier and Cabinet
- Issuing Entity
- Department of Premier and Cabinet