What is choice of superannuation fund? 2 Who does choice of superannuation fund affect? 2 Overview of the Tax Ofﬁ ce’s compliance approach 3 Overview of ASIC’s compliance approach 4 Overview of APRA’s compliance approach 4 02 YOUR OBLIGATIONS 5 Employers’ obligations 6 . Super choice - Meeting your obligations. This whole of government publication provides an overview of the obligations of employers, superannuation trustees and financial advisers under the choice of superannuation initiative. It also sets out the compliance approaches of the Tax Office, ASIC and APRA. Professional advisers. Meeting your obligations for super choice A balanced approach to compliance will be the basis for regulating the introduction of choice of superannuation fund. Tax Commissioner, Michael Carmody, and Chairman of the Australian Securities and Investments Commission, Jeffrey Lucy, released Choice of Superannuation Fund: Meeting your. Standard Choice form issued by the Australian Taxation Office. The Trustee’s Letter of Compliance and information about how to make contributions to Child Care Super on behalf of the employee are set out on the back of this form. You should ensure you satisfy yourself that you are meeting your obligations (including Choice of Fund obligations. By publishing our compliance approaches, we hope to influence the decisions people make about meeting their obligations. We urge all employers, trustees, financial advisers and tax practitioners to read this booklet and ensure they fully understand their obligations and our compliance approaches to the choice of superannuation fund yourabout.com: Nicog 3 changes to your superannuation you need to know about The government’s Protecting Your Super package comes into effect on 1 July. Calls for Kmart to give employees a choice in superannuation The retailer has been urged to ditch an agreement that would . Oct 08, · If you don't meet your super guarantee obligations, you may be liable for a range of penalties or charges. If you give us a superannuation guarantee charge statement, we treat it as an assessment. You are entitled to amend or object to an assessment. Standard Choice form issued by the Australian Taxation Office. The Trustee’s Letter of Compliance and information about how to make contributions to GuildSuper on behalf of the employee are set out on the back of this form. You should ensure you satisfy yourself that you are meeting your obligations (including Choice of Fund obligations.
The review is expected to be completed in the first half of Insurance , Budget , Financial planning and investing , Credit cards and loans , Everyday shopping , On holidays. Contact Us Expand. Need help with managing your money and growing your savings? Andy Kollmorgen Investigations Editor. Amendments You can ask for an amendment at any time within four years of the date the assessment was made the date we received your SGC statement.
But is your super fund telling you the full story? Super comparison websites such as Canstar Cannex and SelectingSuper can be useful tools for comparing funds, but be aware that such sites use different rating methods. Banking , Insurance , Credit cards and loans , Financial planning and investing , Property , Education and childcare , Getting ready for baby , Healthy ageing , Reproductive health , Shopping for special occasions. Daniel Graham Data Journalist. More employees are now able to choose a super fund for the first time under new laws introduced by the Australian Government from 1 July The TV ads are true — choose the right superannuation fund and you really will end up with more money when you retire.
That means nearly four more years of avoidably high fees — costing potentially thousands of dollars — for those who aren't paying attention. Contact us Sitemap. But if you're successful, we will refund any overpayment. Super comparison websites such as Canstar Cannex and SelectingSuper can be useful tools for comparing funds, but be aware that such sites use different rating methods. The TV ads are true — choose the right superannuation fund and you really will end up with more money when you retire.