tel: 0438 594 441

Employer Superannuation Guarantee Contribution changes from 1 July 2013

The Superannuation Guarantee Amendment Act 2012, requires employers to increase Employer Superannuation Guarantee contributions over a phased period during the next 7 years. Commencing 1 July 2013, super contributions will increase from 9 to 9.25%, with a yearly increase up to 12% in 2019. Also interesting is the Superannuation Guarantee age limit of 70 will be removed from 1 July 2013, and employers will be required to contribute to complying super funds of eligible mature age employees aged 70 and older.  What you can do now, is review your enterprise agreement or individual flexibility employment agreement (or we can help you create one),  as you may be able to agree to a definition of ordinary hours which super is payable on (even for casual workers), given superannuation is generally not payable on non-ordinary hours such as overtime.

Sorry, comments are closed for this post.