A year-end task for employers is to notify the ATO of any reportable employer super contributions (RESC) for employees. Find out what RESC are and what you need to do.
Set out below are all SuperGuide articles that relate to How super works.
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If you don’t pay your SG contributions on time and in full, you will need to pay the Super Guarantee Charge to the ATO. But what is it and what’s the SGC Statement?
Choosing a default super fund for your employees is an important decision. Know the rules and your obligations so you can choose the right super fund.
Employers need to choose a default super fund that’s a MySuper fund, but what exactly are they and how do they work?
Most new employees have the right to choose their own super fund, but employers need to be aware of the important rules and deadlines governing this process.
Calculating the SG contributions, you need to pay on your employees’ salary and wages can be tricky. Here’s a simple guide to help you get it right.
If you need to pay and report employees’ SG contributions, you face a range of options and technologies. Our simple guide will help you understand what you need to know.
Tracey Spicer talks to industry experts, including Noel Whittaker, Stephen Huppert and Bina Brown as well as representatives of the FPA, SMSF Association, Super Consumers Australia and Women in Super about their take on the 2020 Federal Budget.
One-off super amnesty a success, Customers remain satisfied with super funds, Latest statistics for SMSFs, ASFA supports 40:40 Vision campaign, Early Release Scheme data, Cybersecurity matters more than ever.
Learn the Australian income tax rates for 2019/20 and 2020/21, as well as details on how income tax is calculated, deductions, offsets and levies.
The Low and Middle Income Tax Offset (LMITO) helps low and middle income earners lower the amount of tax they need to pay. Because it is a tax offset, it can only be used to lower the amount of tax that you owe and not to generate a tax refund or pay your Medicare Levy.
When it comes to super, it’s still a man’s world. That means it’s up to women to even the score. We show you how.
The $700 Low Income Tax Offset (LITO), combined with the tax-free threshold of $18,200, and the Low and Middle Income Tax Offset effectively allows working Australians to earn up to $22,801 for the 2020/21 financial year before they need to pay any income tax or Medicare Levy.
The Personal Income Tax Plan which provides targeted tax relief over seven years for low and middle income earners and protects middle income Australians from bracket creep consists of three steps.
You satisfy the retirement provisions of Australia’s super legislation if you have reached your preservation age, you have ceased gainful employment and you have no intention of becoming gainfully employed again in the future.