What’s happening? From 1 July this year the mandatory superannuation guarantee will increase by 0.5%. Currently, employers are obligated to contribute 9.5% of an employee’s base salary to their nominated superannuation fund. From 1 July this will increase to 10% and will continue to increase by 0.5% each year until it reaches 12% in 2025. […]
So you have have carefully studied the arrangements you have with your independent contractors and taken some good advice to protect yourself from the argument that you may be “Sham Contracting”. You can now sit back and breathe a sigh of relief that they are responsible for all their benefits, right? Not So Fast! […]
A couple of years back, the Federal Government announced that it was making changes to Guaranteed Superannuation Contributions – these changes will finally come into effect on 1 July 2013. What does this mean for me and my business? Compulsory superannuation contributions are made by employers of behalf of their employees. At the moment, the […]