SG Loophole closed
Perrier Ryan • February 6, 2020
Passed last year, but in effect from 1 January 2020, it is now explicitly clear that employee salary sacrifices to superannuation cannot reduce an employer's SGC charge - and, that SG is paid on the pre-salary sacrifice base.
The software companies such as XERO will have made the necessary adjustments but employers should check to satisfy themselves that SG is being dealt with properly and in accordance with the new measures.
Visit the ATO website for more detail.
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