Sitting on multiple company boards? Bill proposes solution to excess super contributions

Ben Travers and Andrew Holland look into the proposed solution for an issue often faced by company directors sitting on more than one board.

Company directors who sit on more than one board (or employees who work for more than one employer) may exceed their annual concessional superannuation contributions cap of $25,000 due to the compulsory superannuation contributions that each company or employer is separately required to make based on the individual’s earnings from that company or employer.These excess contributions can result in additional administration and tax payments for the individual and their superannuation fund. ...

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Authors: Ben Travers, Andrew Holland

Published Date: 01 August 2019