Super Guarantee rate rise scheduled

June 7, 2023 By OBT Financial Group Gatton

Get ready for a new Super Guarantee (SG) rate from 1 July 2023

Key points

The SG rate will increase from 10.5% to 11%
Employers will need to update their payroll settings to align with new rate
The new SG rate applies to the first full pay period start on or after 1 July 2023.

Refer to the ATO’s Super Guarantee Percentage table here »

The Superannuation Guarantee is a compulsory scheme that requires employers to provide a minimum level of superannuation support to their eligible employees.

Please note that the SG scheme is separate from any additional voluntary contributions that an employee may choose to make to their superannuation account.

To discuss payroll updates or to clarify the requirements around the new SG rate, please contact OBT’s friendly tax team in Gatton or Esk.

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Get ready for a new Super Guarantee (SG) rate from 1 July 2023

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Liability limited by a scheme approved under

Information we are required to Disclose to You as a Tax Agent and BAS Agent