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June 9th, 2022
On 1 July 2022 there will be two payroll-related changes to super for employers. The SG rate is rising to 10.5% and the $450 income threshold is being removed.
July 28th, 2021
Ever wondered what’s different about Industry SuperFunds? Since being established in the 80s, industry funds have always had one main driver: putting members first. Here are three major ways they continue to do just that – and how it compares to retail funds. 1. Profits for members Industry SuperFunds have the same goal you do: to save as much as possible for your retirement, so when you stop working you can still […]
March 2nd, 2021
Did you know inaccurate, incomplete, or confusing super data may not only affect your employees’ super accounts, but could also impact your bottom line? Here’s how: 1. Lost super earnings If the data you provide to First Super (or your employee’s chosen fund) doesn’t meet data accuracy standards, this will cause a processing delay as we try to […]
Barring any last-minute announcements from the Federal Government, the JobKeeper wage subsidy program will end on 28 March 2021. Since it was introduced, the $130 billion JobKeeper subsidy has helped employers keep staff on the books during the COVID-19 crisis. So, what do you need to consider moving forward? The JobKeeper FairWork provisions will end Along with the end of the subsidy, temporary JobKeeper provisions added to the Fair […]
December 15th, 2020
If you’re new to First Super, or you’ve never considered using a clearing house before, we explain why it can make your super administration quick and easy and ensure you meet the Government standards for super compliance. How does a clearing house work? A superannuation clearing house lets you make a single online payment to […]
What’s on the super horizon for employers in the new year? Here’s a round-up of what you can expect from both the Government and First Super. Government changes to super choice laws From 1 January 2021, workers can no longer be forced into an employer’s chosen super fund under any new enterprise bargaining agreements (EBAs) […]
While most of us have coped with COVID-19 by supporting each other, scammers have seen it as an opportunity to ramp up cyber-attacks on small businesses. According to the ACCC’s Scamwatch website, during the height of the pandemic fraudsters started using COVID-19 in “email compromise” scams by posing as a regular supplier or business who […]
October 13th, 2020
Last Tuesday’s Federal Budget included a package of superannuation reforms, which – if passed – could transform the way employers manage default super. Super accounts to follow workers when they change jobs Instead of employers creating new super accounts for employees who join their company, under the proposed reforms workers would instead be “stapled” to […]
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