Did you know that from the 1st July, 2022 there are two important changes happening to Super Guarantee?
These are:
- The rate for super guarantee will increase from 10% to 10.5%
- The eligibility threshold of $450 for when you need to start paying employees SG will be removed.
What this means for you?
- From the 1st July, you will need to ensure that your payroll software has been updated, so that the applicable rate is showing 10.5%
- Employees may now be eligible for super guarantee payments, regardless of how much they earn.
- You may have to start paying super for the first time with some employees.
There's no need to panic, because Tax Concepts are hear to help you sort out all your Super Guarantee requirements and assist
with advice.
Just give us a call on 9747-0255 to book an appointment today.
