The Superannuation Guarantee (SG) rate has increased from 10.5% to 11% as of 1st July 2023.
The Superannuation Guarantee rate (SG rate) is the minimum amount of super your employer legally must pay to your super. As of 1 July 2023, the superannuation rate is now 11% of your ordinary time earnings.
This is welcome news for all working Australians, as it helps increase the capacity to save for retirement. The good news doesn’t stop there, with the SG rate forecasted to increase to 12% from 1 July 2025.
| Financial Year | Super Guarantee Rate |
| 1 July 2024 - 30 June 2025 | 11.5% |
| 1 July 2025 - 30 June 2026 | 12% |
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