Australians on employment contracts may soon have their pay docked under new superannuation rules.
As of July 1, compulsory employer contributions rose to 10 per cent from 9.5 per cent.Insurance Loans Mortgage Attorney Credit Lawyer
But in some cases, bosses may be docking your pay to cover the super increase.
RateCity research director Sally Tindall, an adviser to former Labor prime minister Julia Gillard, said this was more likely to happen if someone was on an employment contract that grouped superannuation with salary.
'If you've negotiated a "package" salary which includes the company's super contributions in the total amount, there's a chance your company will cut your take-home pay to fund this super increase,' she said.
Australians on employment contracts may soon be having their pay docked under new superannuation rules. As of July 1, compulsory employer contributions rose to 10 per cent from 9.5 per cent
'Most people are likely to find their employers are footing the bill for the extra super, but for some employees, it could come down to the wording of their employment contract.'
Ms Tindall's former boss Ms Gillard legislated to have super increase to 10 per cent on July 1, 2019, after Senate negotiations led to some policy changes.
But Liberal PM Tony Abbott's government in 2014 delayed the