Simmons Partners

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Latest Accounting News

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Superannuation changes - Superannuation guarantee (SG)

One changes in this area.

The already-legislated increase to the SG rate (from 9.5% to 10%) is now payable from 1 July 2021. The government had flagged its intention to repeal the increase. Check that you complied with the new rate for the September 2021 quarter and make any corrections promptly.

Under existing law, the rate will incrementally increase by 0.5% each year until maxing out at 12% from 1 July 2025.

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13th-November-2021