10/07/2007
Superannuation Contributions
Be sure to check maximum amount of superannuation for each employee
Many employees (especially owners or directors) salary sacrifice or package their salary so that superannuation contributions are above the 9% required.
Since 1 July the maximum amount an employer can claim as a tax deduction is $50,000 per employee under 50 and $100,000 for 50 and over.
We recommend you review all senior people and ensure that they are not over paying.
In the same breath maybe ensure that they are contributing enough superannuation in relation to their financial plan.
