Superannuation Guarantee set to jump 33%
Working Australians received a pleasant surprise when the Federal Treasurer, Mr Wayne Swan, announced that compulsory employer superannuation contributions are set to jump from the current 9% of salary to 12% by July 2019, a whopping 33% increase in Superannuation Guarantee (SG) contributions.
Henry Tax Review: Swan says no, but yes yes to super
Using the Henry Tax Review as a political decoy, the Federal Treasurer, Mr Wayne Swan announced four major changes to the superannuation rules. The super news is a very big deal, because the changes, when legislated, should deliver larger retirement balances to more Australians.
