Did You Know? Superannuation Guarantee Changes

SUPERANNUATION GUARANTEE UPDATE

From 1 July 2022 all employers will have to pay super guarantee on ALL wages paid to employees above 18 years of age where the wages comprise ordinary times earnings.

This will apply regardless of whether the employees are full time, part time. casual or temporary residents.

The $450 per month threshold (before tax) for super guarantee will cease from 1 July 2022. (Note – if your employee is aged under 18, they must still work for more than 30 hours per week to qualify for super guarantee payments).

Contact your bookkeeper, accountant or HR Advisor for more information.

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