Superannuation Guarantee (SG) is the official term for compulsory superannuation contributions made by employers on behalf of their employees. An employer must contribute the equivalent of 9 per cent of an employee’s salary.
The following articles refer to Superannuation guarantee (SG) and superannuation.
This article is a must-read if you make contributions to a super fund, in addition to your employer’s compulsory Superannuation Guarantee contributions.
Hundreds of thousands of Australians who are making a serious effort to save for retirement are expected to receive a financial shock after the financial year ends in [...]
I am writing this short article to provide some context to the articles that have appeared in the Australia Day weekend newspapers about the Henry tax review. Although the Henry tax review report is not a public document the Government has deemed it appropriate to ‘leak’ the [...]
Q: Before commencement of salary sacrifice, my financial adviser told me to ask my boss if he would agree to pay the 9% on the full salary because, legally the employer only needs to contribute the 9% on the income I receive after the salary sacrifice. In short, my gross salary [...]
Q: I never understood the term ‘superannuation’. Is that our money or government money? If it is our money why can’t we do whatever we want with it. Isn’t it illegal to cut our rights when it comes to this matter?
Trish’s response: I agree with you that the term ’superannuation’ is [...]
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 (see table below). A contributions cap sets a limit on the amount of contributions you can make in any one year. If you exceed the cap, your excess contributions are [...]
Q: Hi, I am inquiring on behalf of my son who is unable to work at this stage of his life. It has been three years since he worked. He doesn’t have much in the fund and it is going down every year. Is there any way to stop the bleeding of his funds? [...]
Q: Hi, 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 [...]
Q: I was an Australian citizen, age 37, and had been part of a super fund from about 1993/4. I left Australia in 2001. I see from your 12 legal reasons to cash your super that I may be able to access my restricted benefit. You write: “Cease employment. If you’ve [...]
Q: I checked my statement and I put an extra $10 per week into my super and each time an amount is put in, it has been taxed. Is this right? I thought that my contributions were tax-free?
Q: I’m a member of the Military Superannuation & Benefits Scheme (MSBS). Is there some reduction in the concessional cap because MSBS is a defined benefit scheme?
Q: I’m 53, put $24,700 of pre-tax contributions into my super account ($950/ftn) with my employer also putting in about $7,000 a year. So, the budget rules (halving the concessional contributions cap) mean I can still salary sacrifice this $950/ftn amount until July 2012, attracting only 15% tax, then every [...]
Q: I am 16 years of age. I still go to school but I have just started my first part-time job. Do I get any superannuation? And if I do, where does it go?
Trish’s response: Congratulations on your first job. You ask two questions about your super entitlements.
Am I eligible for [...]
Hi - I'm Trish Power and I am the author of Superannuation For Dummies and many other books on super and investing.And guess what! This site, SuperGuide, is the only INDEPENDENT website for consumers on superannuation in Australia. Read more
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