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The superannuation guarantee scheme requires all employers to provide a minimum level of superannuation support in each financial year for their employees, subject to limited exceptions. The superannuation guarantee applied from 1 July 1992 under the Superannuation Guarantee (Administration) Act 1992 (SGAA).
Employers who fail to provide the prescribed minimum level of SG support are liable to an SG charge as well as additional penalties.
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The SG scheme applies to all employers in respect of their full time, part time and casual employees, with limited exceptions.
In general terms an employer is someone who utilises the services of an employee. An employer may be an individual, firm, company, Government office, trust, non-profit organisation or even a non resident who has employees working in Australia.
In general terms an employee is a person who receives payment in the form of salary or wages in return for work or services performed, or payment for work under a contract for the person’s labour.
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