From 1 July 2022, the $450-per-month threshold for super guarantee is being removed. This means that you will need to pay super for your employees who are under 18 years old if they work more than 30 hours per week.
Superannuation is a highly regulated area. If an employer doesn’t meet their superannuation obligations on time, they need to lodge a Superannuation Guarantee Charge (SGC) statement which attracts significant penalties. In welcome news for employers, draft legislation has been introduced that addresses how ATO officers may exercise their discretion to remit SGC penalties. Read more here.