Legislation which requires employers to provide a minimum level of superannuation contributions for most employees.
Commonwealth Government legislation requiring employers to contribute to superannuation on behalf of most employees. The legislation is enforced by the ATO.
Superannuation guarantee ensures that most Australian workers are provided with superannuation contributions by their employer. An employer should either contribute to a complying superannuation fund or retirement savings account (RSA) for an employer or pay the superannuation guarantee charge. If your employer pays the charge, the Australian Taxation Office (ATO) will then pay an equivalent amount into a superannuation provider of the employer's choice.
Under law, employers must pay minimum levels of superannuation for their employees. From 1 July 2002, it is 9% of earnings.
Superannuation contributions that most Australian workers receive from their employers. The employer should contribute to a complying superannuation fund or a retirement savings account (RSA) for all their employees.
The compulsory rate (imposed by the Commonwealth Government) of contributions your employer must make to your super. Currently the rate is set at 9%.
An Australian Government requirement that employers pay a minimum amount, equivalent to a certain percentage of your earnings, into your superannuation fund or retirement savings account.
Introduced by the Federal Government on 1 July 1992 as the minimum superannuation contribution that an employer is required to pay for an employee to a complying fund. Employers are liable to a penalty SG Charge if they do not comply.
The minimum amount that an employer is required to contribute to a complying superannuation fund on behalf of each qualifying employee (currently 9% as at July 1, 2002). Employers who fail to meet their SG obligations are liable to substantial financial penalty, called the Superannuation Guarantee Charge (SGC).
A Government scheme whereby employers must contribute a prescribed level (currently a minimum of 9%) of an employee's annual income into a nominated superannuation fund.
The Superannuation Guarantee Administration Act (‘Super Guarantee') was introduced in 1992 to make it compulsory for employers to contribute to superannuation for their employees. The minimum level of contribution is expressed as a percentage of each employee's salary (8% in 2001/02 and increasing to 9% from 1 July 2002).
The superannuation guarantee refers to a piece of law which the Australian Government has drafted where employers must pay minimum levels of superannuation for their employees. As from 1 July 2002, the figure stands at 9% of and employee's total earnings or income.