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Superannuation guarantee tax hotline



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Philip Ruddock MP 480

Federal Member for Dundas Shadow Minister for Immigration and Ethnic Affairs

Electorate Tel: (02) 858 1011 Fax: (02) 804 6739

Parliament House Tel: (06) 277 4343 Fax: (06) 277 2062

SUPERANNUATION GUARANTEE TAX HOTLINE

24 September 1992

Philip Ruddock, Federal Member for Dundas and Liberal Candidate for Berowra, said today that employers in the north­ western suburbs may be interested to know that a hotline has

been set up by the Australian Taxation Office for employers' inquiries concerning the Superannuation Guarantee.

"The Superannuation Guarantee legislation came into effect on 1 July 1992. It applies to all employers and most employees. All employees need to make a minimum contribution on behalf of each eligible employee into a complying fund. These

contributions are generally tax deductible, but if contributions required for 1992-93 are not made by 14 August 1993, employers will have to pay a non-deductible Superannuation Guarantee charge.

In order to assist employers in meeting their obligations under this new legislation a special hotline has been set up to deal with inquiries. The number is 13 10 20 and is linked to the Telephone Interpreting Service which provides a

translation service for non-English speakers.

The Coalition opposed this legislation because it believes it is a tax on jobs which, in times of recession, will only result in more unemployment. Under Fightback! employees will be encouraged to take out superannuation but it will not be compulsory."