Super Changes from 1 July 2022

From 1 July 2022, employers will be required to make super guarantee contributions to their eligible employee's super fund regardless of how much the employee is paid. This replaces the old $450 threshold. This change expands super guarantee eligibility so that employees can receive super regardless of how much they earn. Employees must still satisfy other super guarantee eligibility requirements.

The second change is super guarantee rate is increasing to 10.5% from 1 July 2022. Further increases of 0.5% per year are expected until they reach 12% in 2025.

The ATO is working with accounting software providers such as Xero, MYOB, and Key Pay so this will be automatically updated in your payroll function. As we move closer to 1 July 2022, check your payroll systems have been updated so you can correctly calculate your employees' super guarantee payments.