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Unformatted text preview: has current superannuation guarantee contributions. membership. Employer fund General advice The superannuation fund into which an employer will make This is ﬁnancial product advice that’s intended to superannuation guarantee contributions on an employee’s inﬂuence a person or persons in making a decision in behalf, if that employee does not choose a fund. relation to a particular ﬁnancial product. General advice
does not take into account the particular objectives, Financial product ﬁnancial situation and needs of an individual. A ‘ﬁnancial product’ generally means a facility through
which, or through the acquisition of which, a person does Goods and services tax (GST) one or more of the following: A broad-based tax of 10 per cent that is payable on most (a) makes a ﬁnancial investment (see section 763B of the supplies of goods and services consumed in Australia. Corporations Act 2001)
(b) manages ﬁnancial risk (see section 763C of the
(c) makes non-cash payments (see section 763D of the
Corporations Act) 30 ■ CHOICE OF SUPERANNUATION FUND Notice period Self managed superannuation fund An employer’s notice period for an employee will start on: A fund with fewer than ﬁve members, where all the ■ introduction of choice of superannuation fund (1 July members are trustees. 2005)
■ the day the employee starts work for the employer, or
■ the day after the preceding notice period has ended. Shadow shopping surveys
A compliance technique in which ASIC recruits consumers
and monitors the ﬁnancial advice they are given, without A notice period will end once the Tax Ofﬁce gives the
employer written notice that the notice period for the telling the adviser, to ensure it is relevant and meets all
legal requirements. employee has ended. Pay as you go (PAYG) withholding Standard choice form
The form that an employer must give an employee to Employees pay income tax through the year by having
their employers send deductions from their salary or
wages to the Tax Ofﬁce. choose a superannuat...
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This note was uploaded on 03/25/2014 for the course FOBE 302 taught by Professor X during the One '13 term at Macquarie.
- One '13