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On 13 May the ATO released the new ruling, SGR 2009/2 – Superannuation guarantee: meaning of the terms ‘ordinary time earnings’ and ‘salary or wages’. The new ruling applies from 1 July 2009.
Critical changes that employers need to note are that superannuation on overtime and casual payments have been clarified, although superannuation is not payable on regular overtime; and payment in lieu of notice on termination of employment is now superable.
If you need more information about these changes, or would like a copy of the ruling, please contact Emma Watt on (03) 8822 3712 or 0411 708 073 or email her on emma@emmawatt.com.au.
2009-05-18
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