More employees eligible for super
The Super Guarantee (SG) requires employers to pay a minimum level of super support for eligible employees. However, the $450 per month threshold is abolished from 1 July 2022.
The Super Guarantee (SG) requires employers to pay a minimum level of super support for eligible employees. However, the $450 per month threshold is abolished from 1 July 2022.
From 1 July 2022, two important super guarantee (SG) changes will apply to your business. Read the 3 things you need to do if you’re an employer.
From 1 July 2022, the $450 per month threshold for super guarantee eligibility will be removed. The change will expand the coverage of SG to eligible employees regardless of their monthly pay.
From 1 July 2021, employees can claim a tax deduction for COVID-19 tests that are purchased for work purposes. Find out more about the record-keeping requirements to claim the expense.
Employers may have an extra ‘stapled super fund’ step to take with new employees who start from 1 November 2021 that don’t choose a super fund.
Single Touch Payroll (STP) Phase 2 reporting starts 1 January 2022. If you employ staff, you’ll need to be ready for this change. New guidelines that explain the changes are now available to help.
With EOFY fast approaching, it’s best to reach out to us sooner rather than later to talk through deducting your work-related expenses correctly, and any steps you need to be aware of before 30 June.
Bills containing important superannuation measures which may impact you have passed both Houses of Parliament. These measures have now also received Royal Assent, which is the final step required for a parliamentary bill to become law.