This second instalment in this series revisited the fundamental rules and concepts that underpin the Superannuation Guarantee (SG) regime and consider how the SG rules interact with other parts of the tax law. The discussion covered:
- who is an employee for SG purposes? (employee versus contractor)
- what is ordinary times earnings versus total salary and wages?
- director penalty regime
- salary sacrifice arrangements
- interaction with single touch payroll reporting
- SG for closely held payees
- employees with multiple employers
- maximum contribution base and concessional contributions cap
- critical dates when using superannuation clearing houses.