As the new financial year approaches, there are changes to who is eligible for super and how much you need to pay.
From the 1st of July 2022, employees can be eligible for super guarantee (SG), regardless of how much they earn. You only need to pay employees under the age of 18 if they work more than 30 hours a week.
The super guarantee (SG) rate will also increase from 10% to 10.5% on 1 July 2022. You’ll need to use the new rate to calculate super on payments you make to employees on or after 1 July, even if some or all of the pay period is for work done before 1 July. The SG rate is legislated to increase to 12% by 2025. Make sure you update your payroll and accounting systems to continue to pay the right amount of super for your employees.
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