May 23, 2013

Your Super Obligations are Changing!

Employers across Australia will have new super obligations under a range of reforms that are being implemented from 2013 to 2019.

From 1 July 2013, employers must:

  • Increase the minimum rate for super guarantee payments on behalf of their emloyees from 9% to 9.25%.
  • Start making super guarantee contributions for employees aged 70 years and over with the removal of the existing upper age limit.

Start preparing now:

  • Ensure your payroll and accounting systems are able to cater for the gradual increase in the super guarantee rate and removal of the upper age limit.
  • If you have 19 or fewer employees, consider using the free Small Business Superannuation Clearing House, which lets you pay your super contributions in one transaction to a single location.

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