Tag: SGC

Specifically, we cover the proposed changes to excess non-concessional contributions, Superannuation Guarantee (SG) rates, paid parental leave, and the temporary budget repair levy.  It’s worth noting that these policy changes are proposals only and require the passage of legislation to become effective

This month’s wealth pipeline was intended to continue our discussion on mitigating sequencing risk.  However, due to the recent mid-year budget announcement by the Government, our discussion on mitigating sequencing risk will resume next month.  This wealth pipeline focuses on the superannuation aspects of the mid-year budget.

The Superannuation Guarantee (SG) legislation requires employers to pay a minimum of 9% of its employees' ordinary time earnings as super (up to $45,750 per quarter) which in turn can be claimed as a tax deduction.  SG contributions must be paid for employees who are at work or on leave, such as paid sick leave, long service leave, annual leave and workers’ compensation (in some circumstances).  Under the legislation, SG contributions do not need to be paid for employees who are:

Whilst there were many changes in the recent 2010 Federal Budget, today we will be addressing the major superannuation changes.  If you are interested in discussing any of the other changes and how they may advantage wealth creation, please contact us. Superannuation Guarantee (SG) - Increasing from 9% to 12 % by 2019/20