Super Guarantee increase from 1 July to 10%

The Super Guarantee legislation requires businesses to make a contribution to eligible employees for their retirement.

The SG rate will increase on 1 July to 10% and then continue to increase each year until it reaches 12% on 1 July 2025.

Super Guarantee rate increases

1 July 202110%
 1 July 202210.5%
1 July 202311%
1 July 202411.5%
1 July 202512%

Contributions must be paid on a quarterly basis, however you can also choose to pay monthly or fortnightly.

Quarterly Superannuation Guarantee (SG) deadlines

SG quarterDate payment due
1 July – 30 September28 October
1 October – 31 December28 January
1 January – 31 March28 April
1 April – 30 June28 July

If you currently use a software program like xero or myob for your payroll and superannuation, then calculations will automatically be updated for the first payrun of the new financial year.