We have been alerted that Possability have not been paying your superannuation and salary
sacrifice contributions on time.
Do you know how often Possability should be paying into your superannuation account?
Do you salary sacrifice to your superannuation?
Here are a few things you should know:
All employees are covered by the superannuation guarantee. It applies to full-time, part-time and
casual workers. The super guarantee (SG) is the minimum amount of super Possability must pay
to employees to avoid the super guarantee charge. It is compulsory to pay eligible employees
super guarantee (SG) at least 4 times a year, generally January, April, July and October. This is
based on your ordinary time earnings before tax.
The benefits of salary sacrificing to your superannuation effectively reduces your taxable income,
meaning you pay less tax on your income. This is additional to your super guarantee entitlements.
Your employer must still pay your full super guarantee as though there was no salary sacrifice
arrangement in place.
Your Oak Tasmania Enterprise Agreement 2022 states you can make voluntary employee
contributions by authorising it in writing, or adjust the amount you authorise for deduction with
one month written notification - with the adjusted contribution to begin on the first of the month,
and the salary sacrifice payment is to be paid into your nominated superannuation fund no later
than 28 days after the end of the month which the authorised deduction was made.
After writing to Possability, we have received an email stating the salary sacrifice payments have
now been actioned.
If you notice you have not received your superannuation contributions, or your salary sacrifice
payment has not been paid within the 28-day timeline, contact HACSUassist on 1300 880 032 or
email [email protected]