- May 14, 2018
The recently announced Budget for 2018–19 brings choice in the hands of eligible employees to nominate their wages from certain employers are not subject to the superannuation guarantee (SG) from 1 July 2018.
Individuals with more than one employer and expect their income for SG purposes will exceed $263,157 for the financial year will be able to apply for an exemption certificate to release some of their employers from their SG obligations.
Individuals will need to submit their applications 60 days before the start of the quarter the exemption will apply to.
The application form will request all information required for the Commissioner to make an assessment including:
- which employers the exemption certificate will apply to and
- the quarter in the financial year to which it should apply.
Exemption certificates may be issued for multiple quarters within a financial year and will not extend beyond the financial year in which they are issued.