Super News

Superannuation Guarantee Age Limit Abolished

Posted in SMSF Auditor, Tax

Commencing on the 1st of July 2013 the Superannuation Guarantee (“SG”) charge gradually increases from 9% to 12%. The Superannuation Guarantee age limit has also been abolished so eligible employees aged 70 and over will now receive SG.

NB: Initially it was reported that 75 may be the upper age limit but this was subsequently abolished and there is now no age limit for SG contributions.