Is your organisation ready for the super guarantee rate rise?
On 1 July 2021, the super guarantee rate will rise from 9.5% to 10%. If you have employees, you will need to ensure your payroll and accounting systems are updated to incorporate the increase to the super rate.
If you need help to work out how much super you need to pay for your employees after the rate increases, you can use our super guarantee contributions calculator. For salary and wage payments made on or after 1 July 2021, the minimum superannuation guarantee contribution rate of 10% will need to be applied.
The super rate is scheduled to progressively increase to 12% by July 2025. You can find the scheduled rate increases and dates on our website. Visit the ATO website for more information.
Changes to STP reporting from 1 July
Employers should be reporting through Single Touch Payroll (STP) unless they only have closely held payees, or they are covered by a deferral or exemption. There are changes to STP reporting for small employers with closely held payees and quarterly reporting for micro employers from 1 July 2021. This may affect how you report to us. Visit the ATO website for more information on STP reporting changes.
Visit the ATO website for more information.
