Superannuation guarantee (SG) contributions for your employees are due by 28 October. Whether you’re paying super weekly, monthly, or quarterly, it’s important to check that you’ve applied the correct rate.
From 1 July 2022, two new SG changes applied. Those are:
- the SG rate increased from 10% to 10.5%
- the $450 per month eligibility threshold was removed.
Your employees no longer need to earn $450 per month to be eligible for super. However, employees who are under 18 still need to work more than 30 hours in a week to be eligible. Use the SG eligibility tool to work out if you have to pay super for your employees.
Remember to apply these changes to all the salary and wages you paid from 1 July 2022, even if some of the pay period it relates to was before 1 July 2022.
If you don’t pay the full amount of SG contributions to your employees nominated funds on time, you will be liable for the super guarantee charge (SGC). You'll need to:
- lodge an SGC statement to us by 28 November to disclose any missed or late super
- pay the SGC to us.