Superannuation Guarantee (SG)

Labor would add superannuation to National Employment Standards

A Labor Government would make it easier for employees to pursue unpaid superannuation without depending on the ATO.

At the Labor National Conference it was announced that Labor would include superannuation in the National Employment Standards. The National Employment Standards are, currently, a set of 10 minimum worker entitlements – including maximum weekly hours and annual leave.

Shadow Treasurer Chris Bowen said this would give all employees the power to chase their unpaid super.Read More »Labor would add superannuation to National Employment Standards

Jail for employers not paying super guarantee may pass Parliament today

Legislation which could result in employers who don’t pay Superannuation Guarantee being sent to jail may pass Parliament today – the last sitting day for 2018. Update: The House of Representatives has adjourned, seemingly without voting on the amendments – so the Bill has not yet passed. The Treasury Laws… Read More »Jail for employers not paying super guarantee may pass Parliament today

12% Super Guarantee rate will “barely cut it”, says Paul Keating

Paul Keating says the 9.5% Superannuation Guarantee rate “won’t cut it” and the legislated 12% rate will “barely cut it”. Speaking to 7.30, Keating said that when he introduced superannuation people retired “about” 65 and died around 85. But that now people were living into their late 80s and children today could expect… Read More »12% Super Guarantee rate will “barely cut it”, says Paul Keating

Jail for SG non-compliance Bill likely to pass with support of major parties

A Bill to introduce potential prison sentences for Superannuation Guarantee non-compliance appears likely to pass with the support of, at least, the Liberal and Labor parties. The Government has a Bill before Parliament which would allow the ATO to direct an employer to make a payment of Superannuation Guarantee Charge.… Read More »Jail for SG non-compliance Bill likely to pass with support of major parties

Prison sentences for Super Guarantee non-compliance “not justifiable”

Prison sentences for failing to meet Superannuation Guarantee obligations are “not justifiable”, says the Tax Institute. Treasury has been consulting on tougher Super Guarantee rules. The draft legislation includes a new power for the ATO – to give a direction requiring the payment of Superannuation Guarantee Charge to the tax… Read More »Prison sentences for Super Guarantee non-compliance “not justifiable”