The Superannuation Guarantee (SG) rate is set to increase from 10% to 10.5% from 1st July 2022.
If you are an employer, please ensure that your payroll systems are updated and check that your SG rate is set to 10.5% before recording your first pay in July 2022. For employees being paid a salary package amount including super, their net wage will decrease slightly from 1/7/22 to allow for the SG rate increase.
If you are an employee, it is important to review your super balance to ensure that you are being paid the correct amount of SG contributions for the ordinary time earnings earned from 1st July 2022.
Please also note the minimum percentage employers are required to pay is set to increase to 12% over time. The table below outlines the currently legislated future changes to the SG rates for the period 1st July 2022 to 30 June 2026 and onwards.
| Financial Year | Super Guarantee Rate |
| 1 July 2022 - 30 June 2023 | 10.5% |
| 1 July 2023 - 30 June 2024 | 11% |
| 1 July 2024 - 30 June 2025 | 11.5% |
| 1 July 2025 - 30 June 2026 | 12% |
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