On 1 July 2021, the super guarantee rate will rise from 9.5% to 10%. If you have employees, you will need to ensure your payroll and accounting systems are updated to incorporate the increase to the super rate.
If you need help to work out how much super you need to pay for your employees after the rate increases, you can use the super guarantee contributions calculator. For salary and wage payments made on or after 1 July 2021, the minimum superannuation guarantee contribution rate of 10% will need to be applied.
It’s important you pay your workers the correct amount of super. The superannuation guarantee eligibility decision tool will help you determine if your employees are eligible for super, including any contractors treated as employees for super purposes.
The super rate is scheduled to progressively increase to 12% by July 2025. You can find the scheduled rate increases and dates on the ATO website.
More Information
If you have any queries in relation to the above measure, please do not hesitate to contact Suran, Daniel, Jack, Nathan or myself by calling our direct lines/mobiles, through the switchboard (1300 066 235) or by emailing us.
