Self Managed Super Funds
Written by Sheppard-Hanson-Accountants on November 21, 2019 in Practice Updates Uncategorized

From 1 January 2020, eligible individuals with multiple employers can apply to opt out of receiving super guarantee (‘SG’) from some of their employers, to help them avoid unintentionally going over the concessional contributions cap.
If appropriate for them, they should submit the relevant ATO form to apply for an SG employer shortfall exemption certificate, which releases one or more of their employers from their SG obligations for up to four quarters in one financial year.

Editor: We can assist with the lodgement of this form.

Note that this measure may not benefit everyone who is eligible, so before lodging the form, it is important to consider the individual’s employment arrangements, such as how their pay and other entitlements may change (if at all), and the effect of any relevant award or workplace agreement applicable to them.

Click to continue reading:  Sheppard Hanson Newsletter-November 2019

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