REMINDER: 10.5% Superannuation Increase starts on July 1st 2022

This is a reminder that the compulsory Superannuation Guarantee rate increases from 10% to 10.5% as of 1st July 2022.

What this means to you; There will be no change to the invoice value to you or your client (if applicable), this will still be based on approved timesheets or set salaries on existing rates of pay.

What this means to a PAYG Contractor; As all contracts state the contractors rate is ‘Inclusive of Superannuation’ we will reduce the 0.5% from their base pay and remit into their Superannuation fund of choice instead.

We will be issuing communication to the contractors shortly to explain these changes.

Please note the attached table which highlights all planned Superannuation changes each year until 2025 – this is something to bear in mind for the future.

If you have any questions, please feel free to contact our friendly team.

Period General Super Guarantee %
1 July 2021 – 30 June 2022 10.00
1 July 2022 – 30 June 2023 10.50
1 July 2023 – 30 June 2024 11.00
1 July 2024 – 30 June 2025 11.50
1 July 2025 – 30 June 2026 12.00