Common use of Other Impacts Clause in Contracts

Other Impacts. Where a foreign employer is exempted from the Superannuation Guarantee this will result in less Superannuation Guarantee contributions being made than would otherwise have been the case. The 15% tax normally levied on those contributions will also not be collected. The impact on Government revenue cannot be quantified but is expected to be small. The reduction in labour costs for these employers may have some impact in promoting investment in Australia although again this cannot be quantified. Consultation Groups representing employers and the superannuation industry have been consulted on the proposed agreement and they have not expressed any concerns.

Other Impacts. Where a foreign employer is exempted from the Superannuation Guarantee this will result in less fewer Superannuation Guarantee contributions being made than would otherwise have been the case. The 15% tax normally levied on those contributions will also not be collected. The impact on Government revenue cannot be quantified but is expected to be small. The reduction in labour costs for these employers may have some impact in promoting investment in Australia although again this cannot be quantified. Consultation Groups representing employers and the superannuation industry have been consulted on the proposed agreement and they have not expressed any concerns.