What effect will a 3 per cent increase in superannuation contributions have on your business?

Please take part this CCIQ Poll.

Costs rising

This week, the Federal Parliament will consider legislation to gradually increase employer superannuation contributions from 9 to 12 per cent, with the seven-stage increases ending in the 2019–2020 financial year.

Superannuation industry bodies such as the Industry Super Network have welcomed the legislation, saying it’s a more cost-effective solution than the super measures recommended by the Henry Review.

But business bodies oppose the change, saying it amounts to employers having to fork out $20 billion every year in superannuation levies – $4 billion in Queensland alone.

Is it bad news for your business or good news for your staff? Let us know what you think.
 

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