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News / Attention employers! Are you paying your employees the right amount of super? /  

Attention employers! Are you paying your employees the right amount of super?

6 November 2014

From 1 July 2014 the superannuation guarantee rate has increased by one quarter of a percent from 9.25 percent to 9.5 percent.  Have you implemented the changes in your payroll processes?

The Australian Taxation Office (ATO) has issued a notice to remind employers that the superannuation guarantee contributions must be paid on behalf of eligible workers (employees and some contractors) at least four times a year.  The first quarterly cut-off date for paying superannuation guarantee contributions this financial year passed on 28 October 2014.  These contributions should include the compulsory increase.  More details about the superannuation guarantee scheme are available at the ATO's website: www.ato.gov.au/employersuper.

For more information please contact:

Pat Mullins | Partner
Mullins Lawyers
t +61 7 3224 0350
f +61 7 3224 0333
pmullins@mullinslaw.com.au

Tracey Jessie |Partner
Mullins Lawyers
t +61 7 3224 0390
f +61 7 3224 0333
tjessie@mullinslaw.com.au

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