The Government on Tue 14.2.2012, released Exposure Draft – Superannuation Legislation Amendment (Stronger Super and Other Measures Bill) (No 2) Bill 2012 proposing to require employers to report on pay slips information about superannuation contributions they have made (or will make) for the benefit of their employees.

The Draft Bill proposes to enlarge the object of the SIS Act to make it clear that it can regulate employers when they issue pay slips. The information to be reported on pay slips will be prescribed in SIS Regulations, which will require employers to report the amount of contributions and the date on which the employer expects to pay them.

Date of Effect: The amendments will apply to contributions accrued after 1 July 2012.

Comments are due by 20 February 2012.

[LTN 29, 14/2]