ATO contacting employers regarding superannuation changes applying from 1 July 2013

Posted on June 1st, 2013

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by Mark Sullivan

Mark Sullivan is a Director at Mullane & Lindsay in Newcastle and specialises in Family, Relationship and Matrimonial Law

Over 850,000 Australian business owners are in the process of receiving advice on new superannuation obligations from the ATO to ensure they are adequately prepared for changes to superannuation.

From 1 July 2013 employers must:

  • increase the minimum rate for super guarantee payments on behalf of their employees from nine to 9.25 per cent; and
  • start making super guarantee contributions for employees aged 70 years and over with the removal of the existing upper age limit.

These are the first part of changes to be implemented over a 6 year period.   In superannuation law, change remains the constant.

Mark Sullivan is a Director at Mullane & Lindsay, and practises extensively in Family, Relationship and Matrimonial Law. If you require any assistance in this area please contact Mark Sullivan to arrange a consultation or contact our Newcastle office.

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