A reminder to employers that their December 2022 superannuation guarantee (‘SG’) contributions were due by 28 January 2023.
Do not forget the two changes to SG that commenced on 1 July 2022:
- the rate increased from 10% to 10.5%
- employees no longer need to earn $450 per month to be eligible.
Employers now need to make super contributions for all eligible employees, regardless of how much they were paid – their earnings amount is not relevant. However, employees who are under 18 still need to work more than 30 hours in a week to be eligible.
Disclaimer
This publication is intended as a general commentary only and does not purport to be comprehensive. It should not be regarded as tax advice and you should not act solely on the information contained herein. Please contact AscendPoint to further discuss about your circumstances or concerns.
Super guarantee contributions for the December 2022 quarter