Increase in payment rate
From 1st July 2021 super guarantee increases from 9.5% of wages (ordinary times earning) to 10%
Announced in the Federal Budget May 2021
The current $450 per month minimum income threshold, under which employees do not have to be paid the superannuation guarantee (SG) by their employer will be removed. This will begin from the first financial year after the proposed legislation receives Royal Assent which is likely to be from 1 July 2022.