The most recent Employer Quarterly Super Contribution was due to be paid on 28 January 2023. Employees will be checking to ensure their employer has paid super by this date as missing or late superannuation payments can have a significant impact on the long term growth of one’s super balance.
As mentioned in previous editions of Armada Insights, the ATO has ramped up its debt collection activities by issuing Director Penalty Notices for outstanding debts.
Super funds have seen a significant downturn in the last month, with the worst negative returns since the Global Financial Crisis.
As we enter the new financial year, several new tax changes will be coming into effect as of 1 July 2022