There is no guarantee that investment returns will not be negative > their benefits will be 'member protected,' meaning that, generally, administration charges cannot exceed investment earnings on their account in a reporting period. However, other costs such as taxes and insurance costs may be ...
3. The Super Guarantee system and enterprise agreements Unless a specific enterprise agreement or award states otherwise, employers are required to pay a set rate of superannuation into each eligible employee’s super fund. The rate is 11.5% of the employee’s income and is set to increase grad...
The super guarantee has increased by 0.5% for the past few years and will increase from the current rate of 11.5% to reach 12% on 1 July 2025. This stepped increase has given businesses time to plan for the future, as they only needed to make small increases each year rather than cope...
There is no guarantee that investment returns will not be negative ›› their benefits will be 'member protected,' meaning that, generally, administration charges cannot exceed investment earnings on their account in a reporting period. However, other costs such as taxes and insurance costs may...
Error recovery - if a date or amount is missed then a Superannuation Guarantee Charge Statement should be lodged and often it isn’t Superannuation law sets out the various obligations (or rules) that employers must follow in Australia. There are nine key obligations, and sticking to these will...
the employer to pay the unpaid super. Failure to abide by a penalty notice can result in significant fines and possible imprisonment for company directors. The charge is not tax deductible; another reason why most employers do the right thing and make their super guarantee contributions on time....