As the new financial year approaches, there are changes to who is eligible for super and how much you need to pay.

  1. $450 threshold is being removed – From 1 July 2022, employees can be eligible for super guarantee (SG), regardless of how much they earn. This is because the $450 per month eligibility threshold for when SG is paid is being removed. 

You only need to pay super for workers under 18 when they work more than 30 hours in a week.

  1. SG increasing from 10% to 10.5% – The super guarantee (SG) rate will also increase from 10% to 10.5% on 1 July 2022. You’ll need to use the new rate to calculate super on payments you make to employees on or after 1 July, even if some or all of the pay period is for work done before 1 July. 

The SG rate is legislated to increase to 12% by 2025.