Super Guarantee Changes Coming in July

There are two key Superannuation Guarantee changes coming in July 2022 that you need to be aware of:

  1. The super guarantee rate will rise from 10% to 10.5%.  Click here to read more.
  2. The $450 threshold for super eligibility will be removed for most employees. Click here to read more.

The above changes could significantly impact your payroll costs.  The rate increases may affect your existing salary packaging arrangements, and if you rely on a pool of casual workers who earn less that $450 per month, the threshold change may apply to you. We can help you prepare for the increased cost.

Remember – under-payment or late payment of superannuation can incur hefty penalties.  For more information click on the above links, or contact us.