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Industry

April 11, 2019

Are you across the latest superannuation changes?

Find out how they impact you as an employer.

Super provides income for your employees in their retirement. To better protect their entitlements, a number of changes have recently been legislated.

What are the changes and how do they impact me?
The changes are designed to ensure employers meet their super guarantee (SG) obligations and employees are provided with more information to better manage and stay on top of their super.

The Australian Taxation Office (ATO) offers a free online education course designed to help employers better understand their super obligations. The course is voluntary. However, where an employer does not meet their super obligations, the ATO Commissioner may direct the employer to complete it.

Employees will now also have a better insight into their super. This means they can be privy to information on super that’s owed to them, including what the ATO is doing to recover the outstanding amounts.

These new measures, combined with improvements in payroll and super funds’ reporting that provides the ATO with real-time data, allows the ATO to identify employers who may need help and assistance, as well as those who may need to be further investigated.

For more information on your super obligations as an employer, go to the ATO’s Super for employers.

How do I access the courses? To view or complete the course go to Super guarantee employers obligations course.

Original article: https://www.business.gov.au/news/are-you-across-the-latest-superannuation-changes





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