The Treasury Laws Amendment (2019 Tax Integrity and Other Measures No. 1) Bill 2019 – Schedule 7, will ensure that that the amount of salary an individual sacrifices to employer superannuation contributions, does not reduce the earnings base on which SGC contributions are calculated and that the employer sacrifice contributions can’t be used to satisfy the SGC contributions. DATE OF EFFECT: would apply to losses or outgoings incurred on or after 1 July 2020.
See related Tax Technical article about the whole of the Bill.
See below for the proposed amendments, relevant portions of the Explanatory Memorandum and ‘editorial comment’ by way of a critique of this measure.