Superannuation guarantee increase on 1 July
Employers should be managing the super guarantee (SG) increase which comes into effect 1 July
An SG base rate rise is set from 1 July which will increase from 9.5% to 10%, followed by incremental half percentage point increases each year to 12% on 1 July 2025.
Businesses owners should establish an approach strategy to the increase now because missing deadlines is likely to attract ATO attention. And it should be done with transparency that clearly communicates how employees’ payslips will be impacted.
Employers should keep in mind that this is not a one-off increase.
While the legislation is for the employer to contribute the extra half per cent without impacting take-home wages, this may not be the case across all workplaces. Check with us first for any clarification required about your business or sector.
Employee contributions are required to be paid on at least a quarterly basis. Employers are urged to brace for the SG increase on 1 July by allowing plenty of time for payroll changes via business activities that sustain cash flow.
Do note that software providers will be making the adjustment to their systems but, depending on your setup, if you have manually entered a rate you may need to adjust this.
Click here to review the ATO’s super rates and thresholds or contact Notch Above’s Bookkeeping specialists Australia-wide on 1300 015 130 for specific advice about your payroll.
Australian Accounting Awards Bookkeeping Firm of the Year Finalists 2021 and 2020.
Trackbacks & Pingbacks
3indubitable
uf dissertation search https://helpon-doctoral-dissertations.net/
dissertation help management https://dissertations-writing.org/
event management dissertation help https://mydissertationwritinghelp.com/
anthropology dissertation help https://help-with-dissertations.com/
help with thesis or dissertation writing https://dissertationwriting-service.com/
cheap dissertation help in atlanta https://buydissertationhelp.com/
free slots games for fun https://slotmachinegameinfo.com/
10000 slots youtube https://download-slot-machines.com/
mail slots for doors https://beat-slot-machines.com/
vegas grand slots https://slot-machine-sale.com/
double diamond free slots https://slotmachinesworld.com/
penny slots free online https://pennyslotmachines.org/
free jungle monkey slots https://freeonlneslotmachine.com/
nude slots for free https://2-free-slots.com/
older gay chat https://gay-buddies.com/
bears.com official website gay chat room https://gaytgpost.com/
gay dating documentary youtube https://gaypridee.com/
gay teen chat rooms https://bjsgaychatroom.info/
chub gay dating https://gaysugardaddydatingsites.com
2pneumonia
free 3d anima sex games https://cybersexgames.net/
writing a biography essay https://student-essay.com/
writing a comparison and contrast essay https://multiessay.com/
websites to write essays https://dollaressays.com/
online casino games for real money https://casinoonlinek.com/
welcome bonus no deposit https://onlinecasinoad.com/
online casino welcome bonus https://casinoonlinet.com/
no deposit welcome bonus https://casinosonlinex.com/
online casino free money https://online2casino.com/
Comments are closed.