http://www.namroservices.com.au/wp-content/uploads/2015/08/namro-logo-114-300x72.png 0 0 admin http://www.namroservices.com.au/wp-content/uploads/2015/08/namro-logo-114-300x72.png admin2015-08-27 05:08:262015-11-27 00:39:56Increase in Superannuation Guarantee
In the coming months there will be a lot of information about super reforms and advice on how this will change your obligations as an employer.
The first round of changes includes:
- a gradual increase to the super guarantee rate – you will need to increase super guarantee payments on behalf of employees to a minimum of 9.25% on 1 July 2013 (this rate will gradually grow to 12% by 1 July 2019)
- the removal of the super guarantee upper age limit – from 1 July 2013, you will now have to make super payments for eligible employees aged 70 years or over.
If you are a small business employer with 19 or fewer employees you can register for the Small Business Superannuation Clearing House, a free and easy-to-use service that will let you pay your super contributions in one secure transaction to a single location. The service will then distribute the super contributions for you to your employees’ super funds. It is designed to make this process easier to help you meet your super obligations. Visit humanservices.gov.au/smallbusinesssuper For more information on super reforms, go to ato.gov.au/yoursuper