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Superannuation Guarantee Changes

Everest Business Solutions - Friday, March 22, 2013

There are some important changes to the superannuation guarantee (SG) that will come into effect on 1 July 2013.

Please see the below table regarding the changes to superannuation guarantee payments. Financial year

New SG rate

1 July 2012

9 per cent (no change)

1 July 2013

9.25 per cent

1 July 2014

9.5 per cent

1 July 2015

10 per cent

1 July 2016

10.5 per cent

1 July 2017

11 per cent

1 July 2018

11.5 per cent

1 July 2019 and later years

12 per cent

In addition, current superannuation rules indicate that Australians aged 70 and over and still in the workforce are not eligible to receive any superannuation guarantee contributions from their employer. From 1 July 2013, this age limit will be abolished.