From 1 July 2022, two important super guarantee changes will apply to your business.
Whats’ changed
The rate of Super Guarantee is increasing from 10% to 10.5%
The $450 per month eligibility threshold for when Super must be paid is being removed.
What this means for you
These changes mean that from 1 July 2022 you’ll need to make Super contributions at the new rate of 10.5%
You may have to pay Super for the first time for some or all of your employees.
What you need to do
Check that your software is correctly calculating your employees’ Super entitlements from 1 July 2022.
If the removal of the $450 threshold means you’ll be paying Super for one or more employees for the first time, you’ll need to give them a Standard Choice Form.
Next Steps
Find out more about Beck Partners , Who We Are and What We Do at our website and feel free to contact info@beckpartners.com.au if we can be of any assistance.