ACCI Submission to the Super Guarantee Levy Bill (Senate Standing Committee Enquiry)

Synopsis:

The Superannuation Guarantee (Administration) Amendment Bill 2011 was introduced into the House of Representatives on 2 November 2011. It proposes to increase the employer superannuation guarantee
levy (SGL) from 9% of payroll to 12%, in seven stages between 2013/14 and 2019/20.

On 21 November the House of Representatives Economics Committee provided the House of Representatives with its report. ACCI provided a written submission to the House of Economics Committee inquiry into
the Bill.

On 23 November, the Bill passed the House of Representatives with one amendment moved by the Government, which had the effect of removing the age limit for which contributions must be made to eligible employees. ACCI has identified that consequential amendments are now necessary to income taxation legislation, which
is discussed in more detail in the attached submission.