Superannuation Guarantee Obligation refinements under Modern Awards legislation
The two critical dates that impacted employer superannuation guarantee obligations to employees from the Modern Awards legislation, were –
- 1 January 2010. Since this date, The Fair Work Act 2009 brought the Modern Awards legislation into effect. Within some of those Awards:
- particular superannuation funds are specified as Default Funds, but only
- for employees covered by those nominated Awards; and
- 12 September 2008: this was the ‘exception’ date for the application of the Modern Awards Default Fund. Accordingly, if the employer already had a default fund in place then, they were not be obligated to change arrangements.
Employer clients receiving the Continuum Financial Planners eNewsletter directly, dated 10 February 2010, had funds established as a ‘default fund’ for Super Choice purposes prior to this key date. Arrangements for meeting superannuation guarantee obligations for all of our employer clients were well advanced at that time.
Help is as close as a phone call
For compliance support:
Superannuation guarantee obligations are enforcable through the regulator – the ATO. Those enforcement processes are reinforced with a substantial penalty environment. Payroll reporting requirements for many employers have reduced the risk of breaching these requirements. Any employer facing cashflow issues in meeting any of their obligations, but particularly to employees, should seek the guidance and assistance of their accountant urgently.
For superannuation structure support:
The experienced team of advisers at Continuum Financial Planners Pty Ltd is ready to guide you on the superannuation guarantee journey:
- whether as an employer seeking to make provision for your team; or
- an employee seeking the most appropriate superannuation account to meet your career/ lifestyle needs.
To arrange an appointment with one of our advice team members –
- phone our office, on 07-34213456, or
- at your convenience, use the linked Book A Meeting facility.
(This article was first posted by us in February 2008. We occasionally refresh/ update it, most recently in March 2025.)
