Super Changes

[Andrew from Vista Financial]

Hey folks, just to keep you up to pace with some changes to Superannuation Guarantee (SG - 9%).

With effect from 1st July 2008 the statutory 9% Employer Superannuation Guarantee payment should now be calculated on the employee’s ordinary time earnings (OTE).

This will include

Ø Commissions

Ø Allowances

Ø Over-award payments

Ø Performance Bonuses

Ø Paid leave (sick, annual, long service)

Ø Director’s fees.

Many Employer’s are using this way already, however if not they need to make the necessary changes, check with your’s.

Cheers

Andy