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).

Same-sex couples: your super rights explained

Same sex super rights

Yet again, the government of the day has decided that it is not the right time to allow same sex couples to marry, notwithstanding most polls indicate a majority of Australians support this basic human right for same-sex couples. We have elected a Prime Minister who has publicly stated that he feels … [Read more...]

Salary sacrificing and super: 10 facts you should know

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Salary sacrificing superannuation, by making before-tax super contributions, is a popular strategy for employees on middle-to-high incomes. The deal is that you increase your superannuation balance (and pay 15% contributions tax, and for those earning an adjusted taxable income of more than … [Read more...]

Concessional contributions caps: 10 facts you should know

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We receive many questions about the concessional contributions caps. Throughout 2015 and into 2016, SuperGuide, as always, will regularly update readers on any proposed changes to the contributions caps (and other super changes), and the implications of such changes on super strategies. The list … [Read more...]

Double contributions tax for high-income earners

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Anyone with an adjusted taxable income of more than $300,000 (including rental property losses and other items) now pays 30% tax on concessional contributions paid into a super fund, doubling the super contributions tax bill for high-income earners. The regular contributions tax is a flat rate of … [Read more...]

Does shift work count for SG entitlements and income protection cover?

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Q: I’m a shift worker and have a question about whether my ‘Super fund salary’ figure which my employer gives to my super fund should include both my base and shift loading salary. At the moment it only includes my base even though my employer does pay super for both my base and shift loading. What … [Read more...]

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 ways to withdraw your super benefits 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 … [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...]