Are you ready for the Super Guarantee rate rise?

On 1 July 2021, the super guarantee (SG) rate will rise from 9.5% to 10%.

If you're an employer of a small business, you'll need to ensure your payroll and accounting systems are updated to include the super rate increase

For salary and wage payments made on or after 1 July 2021, the new superannuation guarantee contribution rate will need to be 10%

Super guarantee contributions for the quarter ending 30 June 2021 should be calculated at the old rate of 9.5%.

It’s important you pay your workers the correct amount of super & remember to include any contractors as they're treated as employees for super purposes.

The super rate is scheduled to progressively increase to 12% by July 2025.

If you require help to work out how much super you need to pay your employees after 1 July, or need help to determine if your employees are eligible for super, please call us on 9747-0255 to discuss.