Super Guarantee Changes from 1 July 2022

A reminder to our business clients with employees that from 1 July 2022 the following changes to super guarantee (SG) come into force:

1. SG will be payable for an employee regardless of how much they earn. This is due to the $450 per month eligibility threshold for when SG is paid being removed (Note, SG only needs to be paid for employees under 18 if they work more than 30 hours in a week).
2. The SG rate increases from 10% to 10.5%. This rate applies for all wages paid after 1 July, even if some or all of the pay period is for work done before 1 July.

Please contact our office should you wish to discuss this further.