14 April 2021
Increase to Minimum Superannuation Guarantee Contribution from 1st July 2021
Currently employers are required to pay 9.5% of ordinary time earnings up to 30 June 2021, but Parliament legislated a gradual increase to 12% by 2025.
Super Guarantee rate increases
| Period | Super guarantee rate |
| Current rate | 9.50% |
| 1 July 2021 – 30 June 2022 | 10.00% |
| 1 July 2022 – 30 June 2023 | 10.50% |
| 1 July 2023 – 30 June 2024 | 11.00% |
| 1 July 2024 – 30 June 2025 | 11.50% |
| 1 July 2025 – 30 June 2026 and onwards | 12.00% |
Contributions must be paid on a quarterly basis, however you can also choose to pay monthly or fortnightly.
Quarterly Superannuation Guarantee (SG) deadlines
| SG quarter | Date payment due |
|---|---|
| 1 July – 30 September | 28 October |
| 1 October – 31 December | 28 January |
| 1 January – 31 March | 28 April |
| 1 April – 30 June | 28 July |
If you currently use a software program like xero or myob for your payroll and superannuation, then calculations will automatically be updated for the first payrun of the new financial year.
Source: ATO