The minimum percentage employers are required to pay is set to increase with the next increase to 10% due on 1 July, 2021.
The scheduled increase of the super guarantee rate from 9.5% to 10% on 1 July 2021 is still yet to be officially confirmed by the Federal Government, with Australian Treasurer Josh Frydenberg saying in recent months that a decision will be made in the May 2021 Budget.
Here are the past and present superannuation guarantee rates, as well as the currently legislated future changes to the rate from the Australian Government:
How can Walsh Accountants help you?
Have our team help by calculating your compulsory employer superannuation liability so you know what to expect for the next financial year. Engage our team to have your tax plan prepared before 15 June 2021.