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 ordinary time earnings (typically wages or salary). The SG rate of 9.5% has been in place since 1 July 2014.

For a summary of the SG rules see SuperGuide article Superannuation Guarantee: 10 facts about your SG entitlements.

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

Super tax refund for lower-income earners to extend beyond June 2017

In a welcome backflip, as part of its 2016 Federal Budget release on 3 May 2016, the Coalition government announced it will extend the Low Income Super Contribution (LISC) beyond its legislated expiry date of June 2017. The only change is that it will be renamed as the Low Income Superannuation Tax … [Read more...]

Superannuation tax refund: 10 things you should know

SUPER ALERT! In a welcome backflip, as part of its 2016 Federal Budget announcement on 3 May 2016, and confirmed with the re-election of the Coalition government in July 2016, the Coalition government has announced it will extend the Low Income Super Contribution (LISC) beyond its legislated expiry … [Read more...]

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

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...]

Superannuation Guarantee: What hours does my employer have to pay super on?

Q: I am trying to find out on what hours my employer has to pay super. I get paid per hour plus over time, but it is a set roster of 12 hours per shift. Doing less is not optional so to me they are ordinary hours, not overtime, or is this a loophole for employers? Can you direct me to find out about … [Read more...]

Tax-deductible super contributions: Claim no more than your income

Q: If I make a personal concessional payment of $30,000 (tax-deductible) into my super fund and my personal taxable income for 2016/2017 is $20,000, are there possible tax penalties because I’m claiming $10,000 more than my taxable income?I suggest you chat to a registered tax agent, typically … [Read more...]

SG contributions now paid for over-70s (since July 2013)

Since 1 July 2013, eligible employees who are 70 years or older have received Superannuation Guarantee (SG) payments from employers. The previous SG rules stopped SG entitlements when an employee turned 70 years of age.What this means is that since 1 July 2013, eligible employees aged 70 years … [Read more...]

Salary sacrificing and super: 10 facts you should know

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...]

Tax-deductible super contributions: Meeting the 10% income test

Q: I work for myself but I also have a part-time job. I have been told that even though I receive SG from my part-time employer, I can also make tax-deductible super contributions. Is that true? And if it is true, how does it work?Individuals who are self-employed, or who are not employed, are … [Read more...]

Superannuation contributions: Wearing two caps for 2016/2017 year

Q: Are the caps relating to ‘concessional’ and ‘non-concessional’ contributions regarded as separate? Put simply, can I contribute $30,000 concessional and $540,000 non-concessional sums (a total contribution of $570,000) to my super fund for the 2016/2017 year?A: The contributions caps are … [Read more...]

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