May 23, 2013
Your Super Obligations are Changing!
Employers across Australia will have new super obligations under a range of reforms that are being implemented from 2013 to 2019.
From 1 July 2013, employers must:
- Increase the minimum rate for super guarantee payments on behalf of their emloyees from 9% to 9.25%.
- Start making super guarantee contributions for employees aged 70 years and over with the removal of the existing upper age limit.
Start preparing now:
- Ensure your payroll and accounting systems are able to cater for the gradual increase in the super guarantee rate and removal of the upper age limit.
- If you have 19 or fewer employees, consider using the free Small Business Superannuation Clearing House, which lets you pay your super contributions in one transaction to a single location.
Want more information?