Those with employees take note
To help grow Australian workers' savings for retirement, the compulsory super guarantee rate will gradually increase from 9% to 12%.
When you make super payments on behalf of your employees based on the minimum 9% super guarantee rate, you will need to increase this rate on which you base your calculations to 9.25% on 1 July 2013.
(thanks to Accountant Rick Mandelson of Business Supporting Business)
So, the current rate is 09.00% on the following dates the increment will be as follows:
1 July 2013 09.25%
1 July 2014 09.50%
1 July 2015 10.00%
1 July 2016 10.50%
1 July 2017 11.00%
1 July 2018 11.50%
1 July 2019 and onwards 12:00%
To help grow Australian workers' savings for retirement, the compulsory super guarantee rate will gradually increase from 9% to 12%.
When you make super payments on behalf of your employees based on the minimum 9% super guarantee rate, you will need to increase this rate on which you base your calculations to 9.25% on 1 July 2013.
(thanks to Accountant Rick Mandelson of Business Supporting Business)
So, the current rate is 09.00% on the following dates the increment will be as follows:
1 July 2013 09.25%
1 July 2014 09.50%
1 July 2015 10.00%
1 July 2016 10.50%
1 July 2017 11.00%
1 July 2018 11.50%
1 July 2019 and onwards 12:00%
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