Superannuation Guarantee Levy proposed: Australia

Article Abstract:

The Australian government plans to impose the Superannuation Guarantee Levy on employers on Jul 1, 1992. The levy is intended to increase retirement benefits for workers. It requires the collection of 5% from employees' salaries, 3% of which will be shouldered by employers. Contributions are expected to increase to 6% in 1995 and to 9% in 2000. Employers who fail to pay the required minimum superannuation contributions will have to pay additional income tax charges. The levy is expected to be passed into law in the next sessions of the House of Parliament.

Pension, health, and welfare funds, Australia, Defined benefit plans, Retirement benefits

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HR opportunity: getting ready for Section 404A

Article Abstract:

US corporations with significant operations abroad should prepare for Section 404A legislation. The section consists of rules that US multinational companies should follow to be granted a deduction of foreign pension expenses on their tax returns. The rules also cover deferred profit sharing, money purchase and termination indemnity plans. Companies can take full advantage of the opportunities that Section 404A offers by following the suggestions given.

Taxation, International business enterprises, Multinational corporations, Tax deductions

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European Union employers and the recent ECJ rulings

Article Abstract:

The EC Court of Justice gave on Sep. 28, 1994, its Judgments on six cases concerning the equal treatment of women and men in employee benefit plans. The Judgments are important because they serve as clarifications of the key Judgement made on May 17, 1990, over the case of Barber versus GRE. The general themes of the Judgments and their implications for employee benefit plan provisions on a country-by-country basis for the 15 EC members are presented.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Pension & Benefit Regulation, Cases, Pensions, European Court of Justice, Pay equity

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