From 1 July 2021, the Superannuation Guarantee was legislated to rise in 0.5% increments each year, until it reaches 12% in 2025. As part of this, the SG will increase to 10.5% from 1 July 2022. As these changes fast approach, it is important for employers to understand how this may impact their remuneration arrangements with their employees.

Please see the below table outlining the minimum super percentage:

PERIOD GENERAL SUPER GUARANTEE (%)
1 July 2020 – 30 June 2021 9.50
1 July 2021 – 30 June 2022 10.00
1 July 2022 – 30 June 2023 10.50
1 July 2023 – 30 June 2024 11
1 July 2024 – 30 June 2025 11.50
1 July 2025 – 30 June 2026 and onwards 12.00