From 1 July 2022, two important super guarantee (SG) changes will apply to your business. These are:
These changes mean that from 1 July 2022:
We’re working with digital service providers (DSPs) to make sure payroll software is updated in time. If you use a tax agent, they’ll also be aware of these changes and able to assist you.
Our updated online tools and calculators will be available to help you from 1 July 2022.
Check that your software is updated to correctly calculate your employees’ SG entitlement from 1 July 2022.
If the removal of the $450 threshold means you’ll be paying SG for one or more employees for the first time, you’ll need to give them a Standard Choice Form.
If your employee does not provide you with a choice of super fund, review the Stapled Super Fund information on our website for guidance on what you need to do next. A stapled super fund is an existing super account linked to an individual employee.