Explanatory Memorandum – March 2020

Super guarantee loophole closed A superannuation guarantee loophole that allowed employers to use salary sacrificed contributions to make up part of their required super guarantee contributions has been closed. From 1 January 2020, employers must make the full amount of mandatory super guarantee contributions and cannot use salary-sacrificed amounts to reduce those mandatory contributions. Depending … Continue reading Explanatory Memorandum – March 2020