Salary Sacrifice Integrity and Choice of Super Fund: Bill introduced
Liz Gibbs • September 13, 2017
The Treasury Laws Amendment (Improving Accountability and Member Outcomes in Superannuation Measures No 2) Bill 2017 , introduced in the House of Reps Thur 14.9.2017, proposes the following amendments to the Superannuation Guarantee (Administration) Act 1992 :
- SALARY SACRIFICE INTEGRITY: employers will be prevented from using an employee's salary sacrifice contributions to reduce their own minimum 9.5% super guarantee (SG) contributions. Salary or wages sacrificed to superannuation will be specifically included the earnings base for calculating an employer's SG contributions on the pre-salary sacrifice base.
- CHOICE OF FUND: to be extended to employees covered by workplace determinations and enterprise agreements made on or after 1 July 2018.
The Bill has been referred to the Senate Economics Legislation Committee for report by 23 October 2017.
DATE OF EFFECT: 1 July 2018.
If you have any questions about how the proposed changes apply to you, please don't hesitate to contact Liz Gibbs at Robert Goodman Accountants on 07 3289 1700.
We all know the feeling: days packed with effort, only to realise we’ve spun our wheels more than moved the needle. The key to shifting from busyness ?
If you’re anything like the rest of us, you probably start each week with the best of intentions, only for your to-do list to mushroom out of control by Wednesday. Planning and feeling overwhelmed can, unfortunately, go hand in hand.
Is your calendar bursting at the seams, yet your profits aren’t keeping pace? It’s a common dilemma. True growth happens when you sharpen your focus.
