Superannuation Guarantee (SG)

Superannuation Guarantee (SG) is the official term for compulsory superannuation contributions made by employers on behalf of their employees.

An employer, regardless of whether they are a small or large business, must contribute the equivalent of 9.5% of an employee’s salary, from July 2014.

Set out below are all SuperGuide articles explaining Superannuation Guarantee (SG).

Super tax refund for lower-income earners available until 2016/2017 year

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NOTE: The Coalition government has extended the Low Income Super Contribution until the 2016/2017 year, as part of a parliamentary deal which secured passage of the repeal of the Mineral Resource Rent Tax. Under the new legislation, enacted in September 2014, the LISC is now payable for the … [Read more...]

MySuper: 117 super funds now available

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Note: This article provides a complete list of official, authorised MySuper products. This list will be updated regularly if any additional MySuper products are authorised by the Australian Prudential Regulation Authority (APRA). This article last updated on 21 July 2015. Since 1 July 2013, super … [Read more...]

Unrestricted access to super, sometimes

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Q: I have been part of a super fund from about 1993. I see from your 14 legal reasons to cash your super article, that I may be able to access my restricted benefit. You write: “If you’ve been a member of a super fund since before 1 July 1999, you can cash your ‘restricted non-preserved benefit’ … [Read more...]

Super for beginners, part 17: Four must-knows about super’s tax rules

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Q: I am trying to understand how my super is taxed and it seems that it is taxed at every turn. Can you please explain when, and how, a super benefit is taxed? A: If it were not for tax, superannuation wouldn’t exist. You would simply invest in your own name. Superannuation is taxed at lower … [Read more...]

Super concessional contributions: 2015/2016 survival guide

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Superannuation contributions can be divided into two types — concessional (before-tax) and non-concessional (after-tax). Each type of super contribution is subject to a contributions cap. A contributions cap sets a limit on the amount of contributions you can make in any one year. This article … [Read more...]

Transition-to-retirement pension: Can I work full-time and what form do I fill in?

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Q: Your website says: “By starting a TRIP, you don’t have to retire to withdraw your super benefits. You can work part-time or full-time or even casually.” But on the TRIP form I have from my super fund it says I have to be permanently retired or be working part time. Which is correct? I can’t see … [Read more...]

TRIPs: 10 interesting facts about transition-to-retirement pensions

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Note: The general concessional contributions cap remains at $30,000 (for the 2015/2016 year, and also applies for the 2014/2015 year). The special $35,000 cap for over-50s continues to apply for the 2015/2016 year (or more specifically, to anyone who is aged 49 years or over on 30 June 2015). If … [Read more...]

Superannuation Guarantee remains at 9.5% for 2015/2016 year

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The Superannuation Guarantee rate remains at 9.5% for the 2015/2016 financial year, and stalls at this rate for another 6 years. The Superannuation Guarantee rate first increased to 9.5% from 1 July 2014 (the 2014/2015 year). Based on revised laws, the SG rate will remain at 9.5% for another 6 … [Read more...]