Closing Salary Sacrifice ‘loophole’ Bill passes Parliament

The Bill to close the ‘loophole’ allowing employers to use employee Salary Sacrifice contributions to offset their Super Guarantee obligations has passed the Parliament. The Treasury Laws Amendment (2019 Tax Integrity and Other Measures No. 1) Bill 2019 has passed the Parliament, after the Government agreed to amendments made in the Senate. The Bill passed… Continue reading Closing Salary Sacrifice ‘loophole’ Bill passes Parliament

Multiple employer SG opt-out, NALI expenses, LRBA in Total Super Balance pass Parliament

A collection of changes to superannuation – including a limited and partial Super Guarantee opt-out, and changes to NALI and LRBAs – have passed the Parliament. The Treasury Laws Amendment (2018 Superannuation Measures No. 1) Bill 2019 has passed the Parliament, without amendment. It allows some employees with multiple employers to opt-out of Super Guarantee… Continue reading Multiple employer SG opt-out, NALI expenses, LRBA in Total Super Balance pass Parliament

Superannuation Bills largely stalled in Senate ahead of winter break

With Parliament having risen for the long winter break many of the Government’s superannuation Bills remain stalled in the Senate, with some not even being debated yet in 2018 ASIC fee-for-service Bills The Bills to change ASIC towards a fee-for-service model have passed the Parliament. In part the Bills will lead to increases in the… Continue reading Superannuation Bills largely stalled in Senate ahead of winter break

Super Guarantee amnesty Bill introduced with “haste and secrecy”: Labor

Labor members of a Senate committee have accused the Government of engaging in “haste and secrecy” around its Bill to create an amnesty for employers who haven’t paid their Super Guarantee obligations. The majority of the Senate Economics Legislation Committee, which includes Liberal Senators and Greens Senator Whish-Wilson, recommended that the Treasury Laws Amendment (2018… Continue reading Super Guarantee amnesty Bill introduced with “haste and secrecy”: Labor

Small Business Ombudsman supports Super Guarantee amnesty

The Australian Small Business and Family Enterprise Ombudsman supports the Government’s planned amnesty for employers who haven’t met their Superannuation Guarantee obligations, a decision which the ACTU has described as “shocking”. The Small Business Ombudsman appeared before a Senate Committee which is inquiring into the Treasury Laws Amendment (2018 Superannuation Measures No. 1) Bill 2018.… Continue reading Small Business Ombudsman supports Super Guarantee amnesty