delete Superannuation (Salary) Regulations (Amendment)
Amendment to Superannuation (Salary) Regulations defining what constitutes 'salary' for superannuation guarantee contribution calculations, registered 2005-01-01. These regulations typically specify which payments are included or excluded from the salary base used to calculate mandatory employer superannuation contributions, affecting contribution amounts for millions of Australian workers.
Such salary definition regulations add compliance complexity and costs for employers while restricting individual choice over compensation structures. By rigidly defining salary for superannuation purposes, these regulations can distort labor market arrangements, discourage flexible remuneration packaging, and create unintended consequences where employers reduce other benefits to maintain superannuation contribution costs. The compliance burden falls disproportionately on smaller businesses. Australians would be better served by a system where individuals have greater freedom to negotiate their compensation mix and save for retirement according to their own preferences and time horizons, rather than having the government prescribe how salary components must be treated for mandatory contribution purposes.