37389 (2024). Hon Dr Deborah Russell to the Minister of Revenue

37389 (2024). Hon Dr Deborah Russell to the Minister of Revenue: What modelling, if any, was undertaken to calculate the cost per employee of delaying aligning Employer's Superannuation Contribution Tax rates with Personal Income Tax rates from 31 July 2024 when Personal Income Tax thresholds will change until 1 April 2025 when Employer's Superannuation Contribution Tax rates will change and what was the result of that modelling?

Hon Simon Watts: The average opportunity cost of an application date of 1 April 2025 rather than 31 July 2024 for the change in Employer’s Superannuation Contribution Tax thresholds is $70.80 of after-tax contributions per affected employee in the year to 31 March 2025. The number of affected employees is estimated at 395,000. In aggregate the total fiscal difference is $28 million in the 2024/25 fiscal year only.