Could you please confirm whether my employer's current Australian superannuation practice presents any compliance risk under ATO requirements?
Current practice
Contributions are paid on MONTHLY at 12% of OTE.
monitor against the annual concessional cap (e.g., AUD 30,000 for the current FY). When an employee reaches the annual cap, further employer contributions are paused until the next financial year.
Please advise on:
1) Whether this arrangement could be considered non-compliant by the ATO in light of the quarterly Maximum Contribution Base (MCB) framework (i.e., SG assessed per quarter).
2) Any risk of SG shortfall, SG Charge (SGC) exposure, interest/penalties, or loss of deductibility under our current approach.
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