Current news from our news service

Hot Issues
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State and Federal COVID-19 support
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Lockdowns and mental health
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Unemployment rate falls to 12-year low
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ATO issues warning to first-time investors
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World's largest armies 1816 - 2020
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Extra 'super' step when hiring new employees
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Pitfalls and proposed changes in the use of R&D tax incentives
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Government expands SME loan scheme eligibility
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COVID-19 disaster payments to be tax-free: Prime Minister Scott Morrison
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‘Nowhere to hide’: New gig economy reporting regime set to debut
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Hardship priority processing of tax returns
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ATO Small Business Newsroom - July / August
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Videos and other resources for our clients
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‘Mammoth consequences’: ATO’s NALI ruling draws ire from accountants
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Superannuation Guarantee Rates Reminder
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NSW support measures, plus update for payroll tax.
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Tax Time Checklists - Individuals; Company; Trust; Partnership; and Super Funds
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Year-end tax planning
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Home Office & end of 2021 tax year
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ATO extends STP finalisation due date
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Super transfer balance cap increase from 1 July 2021
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ATO extends Division 7A COVID-19 relief
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Tax implications - more than one job
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Tax mix to rely more heavily on income tax as the Treasurer ducks austerity
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10% Super Guarantee from 1st July 2021
Article archive
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Superannuation Guarantee Rates Reminder

 

The current superannuation guarantee rates for employees has increased to 10% rate from pay periods ending after 1st July 2021.  This has changed from the 9.5% superannuation guarantee rate used since 2014.

 

       

Employers are encouraged to review their payroll software to ensure that their systems are up to date and are calculating the correct rates.  The incorrect rates will lead to unintended underpayments of superannuation, which may attract penalties.

We also recommend that employers review your employee’s contracts to ensure that you are calculating the superannuation correctly on the employees renumeration package.  The first quarterly superannuation guarantee subject to the new rate will be September 2021, due by the 28th October 2021.

As a reminder, the following superannuation guarantee (SG) rates are to be implemented in due course:
 

Period

SG Rate

1 July 2021 to 30 June 2022

10.00%

1 July 2022 to 30 June 2023

10.50%

1 July 2023 to 30 June 2024

11.00%

1 July 2024 to 30 June 2025

11.50%

1 July 2025 to 30 June 2026

12.00%

 

 

 

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