Superannuation changes from 1 July - what employers need to know

As outlined by Daniel Hodgson, Hayley Lock and Mardi Heinrich, employers must have systems in place to accommodate the change to the superannuation guarantee rate.

The Australian Superannuation Guarantee (SG) is set to increase from 9.5 percent to 10 percent of employees’ ‘ordinary time earnings’ from 1 July 2021. The SG is the minimum rate of contributions an employer must make on behalf of its employees up to the cap known as the Maximum Contributions Base ($58,920 of earnings per quarter for the year ended 30 June 2022). Despite speculation that the slated increase may be postponed given the economic impacts of COVID-19, no announcements were made ...

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Authors: Daniel Hodgson, Hayley Lock,

Published Date: 18 June 2021