super contributions

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Payday super – exposure draft legislation now open for consultation

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Payday super – exposure draft legislation now open for consultation

In the 2023-24 Budget, the Government announced that the super guarantee framework will be reformed to align the payment of super guarantee contributions with an employee’s regular pay cycle, instead of the current quarterly requirements. 

The exposure draft legislation for the new ‘Payday Super’ rules has now been released, with consultation open until 11 April 2025.

The super guarantee charge, payable where employers fail to make contributions in full and on time, will be updated, including a new ‘administrative uplift’ component of up to 60% of the shortfall amount.

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Sladen Snippet - Key changes to super guarantee rates and thresholds from 1 July 2022

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Sladen Snippet - Key changes to super guarantee rates and thresholds from 1 July 2022

As discussed here, one of the key superannuation announcements in the May 2021 budget was the removal of the minimum $450 threshold for super guarantee purposes.

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Sladen Snippet - you haven’t made super contributions on time – now what?

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Sladen Snippet - you haven’t made super contributions on time – now what?

ake super guarantee contributions on time is not a breach of the super laws, but it will trigger tax for the employer, and potentially penalties.

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Super contributions payable to contractor plumber - a call for action for businesses

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Super contributions payable to contractor plumber - a call for action for businesses

In the recent Australian Administrative Tribunal (AAT) decision of Trustee for Virdis Family Trust t/a Rickard Heating Pty Ltd v FC of T [2022] AATA 3, the AAT relied on the decision in Dental Corporation Pty Ltd v Moffet [2020] FCAFC 118 (Moffet) to find that a plumber who was engaged as a contractor was an employee for the purposes of the Superannuation Guarantee (Administration) Act 1992 (SG Act).