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More than a quarter of Australia's top 20 listed companies will not fund the superannuation increase for all employees from July 1 but will instead. ....
Minister for Superannuation, Financial Services and the Digital Economy Jane Hume. Source: AAP/Mick Tsikas. The Morrison government has passed its controversial Your Future, Your Super bill through Parliament after winning the support of Jacqui Lambie, Pauline Hanson and Stirling Griff. The bill’s passage through the upper house on Thursday marked the end of a difficult few weeks of negotiations for the Coalition, which requires the support of crossbenchers in both houses to pass legislation. Former Liberal MP Craig Kelly had described an earlier version of the bill as contrary to Liberal Party values and other independent MPs had also voiced serious concerns about it. ....
REST, AustralianSuper among funds to 'cement power' from super fund stapling afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.
Benefits of change to super threshold ânon-existentâ Save Share Federal budget moves to scrap the $450-a-month threshold for compulsory super payments will deliver little benefit for Australiaâs lowest-paid workers unless changes to fee structures are put in place, tax watchers have warned. This monthâs budget included moves to axe the rules stipulating that only those employees earning more than $450 a month before tax should be paid super contributions. The change, expected to take effect in July 2022, will force employers to pay superannuation to all employees regardless of their pay rates. But accounting peak body Chartered Accountants Australia and New Zealand says the plan could actually lead to some workers losing out. ....
Treasurer Josh Frydenberg is set to scrap the $450 a month threshold to pay compulsory super in the 2021 federal budget, boosting the retirement incomes of thousands of part-time workers and mums. News.com.au has confirmed the threshold will be scrapped in Tuesday s budget, a modest change that will ensure more workers are paid super when they earn even small amounts with a single employer.
It s the threshold that causes almost twice as many women as men to miss out on a super contribution when working in insecure, part-time jobs. Abolishing the requirement that workers earn $450 a month with a single employer would also not cost employers much - adding only a couple of hundred dollars on average to their costs for each employee. ....