Do you know how your super is performing?

Mobbs & Company have a specialised team to assist with all your Self Managed Superannuation Fund needs.

We can assist with all areas of our Superannuation Fund, from setting up your SMSF to preparing your Financial Accounts and Taxation Returns. Our qualified staff are here to assist you; whether it is borrowing through your superannuation or any queries that you may have in between.

You can be assured that we can simplify your affairs and offer you the accurate and professional advice that you need, in a timely manner.

Want to find out more?

Finding it hard to hit your financial targets?

Our business benchmarking service analyses your business' position within the industry and identifies an action plan to increase profitability.

Want to find out more?

Accounting News

Salary and Superannuation after the death of an employee

  Although hopefully a very uncommon occurrence, there will be questions for the pay office of most employers after the death of an employee.

What are the PAYG and superannuation obligations?

       

Accrued salary and accrued leave is payable in the normal way, but would be typically paid to the executor.

A recent interpretation by the Australian Taxation Office (ATO) indicates that superannuation obligations must be met.  Failure to do so will result in a superannuation guarantee shortfall.  

The ATO view is that superannuation must be paid in the normal way because the salary has been paid to a “former” employee.

Minimum superannuation obligations apply to current and former employees.  Hence, ATO conclude that payment to the legal personal representative (i.e. executor) of the former employee, triggers a normal superannuation obligation.

 

AcctWeb