Starting from 1 July, the Super Guarantee (SG) Rate for your employees and eligible contractors has been increased to 11%. To ensure compliance, please update your payroll and accounting systems accordingly.
- Calculate super contributions at the new rate of 11% for payments of salary and wages made from 1 July onwards.
- For the last quarter (ending 30 June), use the 10.5% rate for payments made before 1 July.
Please note that the SG rate is set to progressively rise to 12% by July 2025.
If you require assistance in determining the correct super contributions for your employees and eligible contractors post 1 July, you can always consult our certified public accountants for professional advice. Book your appointment today.