Superannuation Guarantee Changes

Superannuation Guarantee Changes from 1 July 2022

From 1 July 2022, two important superannuation guarantee (SG) changes will apply to your business. These are: the rate of SG is increasing from 10% to 10.5% the $450 per month eligibility threshold for when SG is paid is being removed. What this means for you These changes mean that from 1 July 2022 you’ll…

Superannuation Contributions for FY 2022

An employer must contribute to a complying superannuation fund before year-end in order to obtain a tax deduction for superannuation contributions. The superannuation contribution must be paid and cleared in the bank account before 30 June to claim a tax deduction. This will mean that payments should be made by 20 June to allow sufficient…