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Since the introduction of the Federal Government’s SuperStream programme, there’s been many changes to the way in which employers pay their employees’ super contributions. Likewise, First Super is working hard to reflect the new requirements in its systems to improve and streamline the process for you, First Super’s valued employers. In accordance with the new […]

Introduced in 1992, Superannuation Guarantee (SG) – that is, the compulsory superannuation system for Australian employees – remains highly topical more than two decades on. Changes to the super system are constant, and add complexity to the process for the superannuation industry, advisers, and of course employers and employees. Public and parliamentary debate about elements of […]

The Federal Government has targeted employer misuse of salary-sacrifice contributions to employees’ superannuation accounts as an area for reform. The Turnbull Government has accepted a recommendation of the Superannuation Guarantee Cross Agency Working Group to close a loophole that enables employers to use money contributed by employees in salary-sacrifice arrangements to meet or reduce their […]

The Australian Taxation Office (ATO) has its sights set on employers who fail to pay Superannuation Guarantee on time. According to the ATO, 7 – 8 % of employers fail to pay on time or don’t pay the required amount of their employee’s superannuation contributions. To address the issue, from 1 July 2018 the ATO […]

Payroll processes are set to change for Australian business in coming years with the phased introduction of Single Touch Payroll (STP). Driven by the Australian Taxation Office, STP aims to deliver real-time data collection of payroll data, namely tax and superannuation information, to improve compliance and transparency in the payroll process. Announced in 2017, the […]

Employers are reminded a contribution does not become a contribution until it is actually received by a superannuation fund. This confirms the ATO’s view that contributions made by electronic funds transfers occur when the amount is received by the superannuation provider or credited to the relevant account. The fact that money has left an employer’s […]

The end of July marked a time of significant change in the way Australians can approach their annual leave. And while the changes are designed to maximise flexibility for both employers and employees, there are some pitfalls both parties should consider. The changes to clauses 112 of the 122 Australian workplace awards by the Fair […]

Whether you run a business or are an employee, it’s a rare person who looks forward to tax time with glee. You may keep your receipts in a box under the bed, or perhaps you take a more structured approach to your filing. Regardless, anything that promises to streamline the process and make record-keeping easier […]