The ATO advises that in April 2013, it will be sending information out to employers with superannuation guarantee obligations. Some of them may be clients of tax agents.
Employers across Australia will have new super obligations under a range of reforms that are being implemented from 2013 to 2019.
From 1 July 2013, employers must:
- increase the minimum rate for super guarantee payments on behalf of their employees from 9% to 9.25%
- start making super guarantee contributions for employees aged 70 years and over with the removal of the existing upper age limit.
Employer clients may need to update their processes and systems to incorporate the changes.