On 1 July 2022, the super guarantee (SG) rate increased from 10% to 10.5%. In addition to this, the ATO has also removed the $450-per-month eligibility threshold.

This means that an employee will be paid SG regardless of how much they have earned. If the employee is under 18, however, they still need to work more than 30 hours in a week to be eligible for super payments.

These changes apply for all salaries and wages paid from 1 July 2022, independently of the period the payment relates to.

To avoid paying super guarantee charge (SGC), make sure that:

• Your payroll system has been updated to accommodate these changes, and
• Your employees’ SG has been correctly calculated and received by their elected super funds by 28 October 2022.

A review of eligibility criteria in Super:

The ATO has detailed information on eligibility criteria and exceptions here.

Feel free to Contact Us or call 0416 919 036 if you would like any further advice in this area.