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With continuous alterations in previous Budgets being a source of frustration and confusion for both funds and members, the 2018/19 Budget continues to tinker with the system resulting in a number of changes being made that employers should be aware of. The Government has announced three initiatives which will have an impact upon members, the […]

Closing the gender pay gap in superannuation According to the Association of Superannuation Funds of Australia (ASFA), the average superannuation balance for women in 2017 was $68,000 and for men, $112,000. Women retire with comparatively less savings than men, resulting in relatively lower incomes in retirement and leaving them at a much greater risk of […]

From 1 July 2018, Single Touch Payroll (STP) will become mandatory for employers with more than 20 employees. The ATO led initiative will see an improvement in the way wages, superannuation and PAYG taxes are monitored, encourage greater transparency, modernise payroll reporting and connect business to the ATO in real time through their accounting software. […]

So your business is up and running and you’ve set up a Facebook business page account. A few months go by and you’ve barely had a hit. What are you doing wrong? Follow these tips to maximise your exposure, generate followers and potential sales. Tip1: Housekeeping First thing’s first: You need to create a Facebook […]

The EOFY is fast approaching, and as employers there are a number of obligations that you must meet before June 30. Along with your compliance and legal obligations, the EOFY marks an important time where employers can assess the year that was and plan for the new financial year, complete bookkeeping, tax returns, as well […]

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 […]