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Your Super Obligations are Changing - Get Ready Now

Written on the 6 May 2013

From 1 July 2013, your super obligations are changing and will continue to increase over the next 7 years.

Start preparing now... ensure your payroll and accounting systems are able to cater for the gradual increase in the super guarantee rate and the removal of the upper age limit.

 

The below is a summary of the changes:

 

Date Change
1 July 2013
  • Increase your employees's super guarantee rate from 9% to 9.25%
  • Make sure super contributions for employees are 70 years or over
1 January 2014
  • Employers must make super guarantee contributions for employees who have not completed a choice of fund form to a fund that is authorised to offer a MySuper product
1 July 2014
  • Increase your employees's super guarantee rate from 9.25% to 9.5%
  • If you have 20 or more employees, use the new data and e-commerce standard when making super contributions
1 July 2015
  • Increase your employees's super guarantee rate from 9.5% to 10%
  • If you have 19 or fewer employees, use the new data and e-commerce standard when making super contributions.
1 July 2016
  • Increase your employees's super guarantee rate from 10% to 10.5%
1 July 2017
  • Increase your employees's super guarantee rate from 10.5% to 11%
1 July 2018
  • Increase your employees's super guarantee rate from 11% to 11.5%
1 July 2019
  • Increase your employees' super guarantee rate from 11.5% to 12%

 


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