From the 1st of July 2022, two crucial super guarantee (SG) changes will apply to your business
- The SG rate is increasing by 0.5% (10% to 10.5%)
- The $450 per month eligibility threshold for SG when it is paid is being removed.
If you are an employer:
- From the 1st of July 2022, you should contribute at the new SG rate of 10.5%
- All employees over the age of 18 will be eligible for SG, regardless of how much they earn. Under 18-year-old employees will only be eligible if they are working more than 30 hours of the week.
All the payroll software providers update these changes in time.
If you need any help with your payroll, please contact our bookkeeping team.
Our dedicated team is here to help!