The Federal Government will significantly delay the phased-in Superannuation increase to 12% with the rate remaining at 9.5% until 2021.
After this time, super will increase by 0.5% each year until it reaches 12% on 1 July 2025.
14/10/2014In December last year, the Commonwealth Bank of Australia took its challenge to the High Court in relation to a Full Federal Court decision that found an implied term of ‘mutual trust and confidence’ existed in all Australian employment contracts. This had placed significant additional obligations on employers when dealing with staff. The High Court has spoken unanimously – there is no proper basis in law to imply such a term. This will be good news for employers, but don’t get your hopes up just yet.