The superannuation guarantee statutory rate is currently 10%. In July of each year until 2025, the rate will increase in 0.5% increments until it reaches 12%.
In July 2022, the rate will rise to 10.5%. From then on, the rate will increase by 0.5% each year until July 2025 when it will reach the legislated 12%.
Prepare Now for the July Rate Rise:
Getting organised now means that you'll be well prepared for your business's increased costs when the first payment is due later this year.
Contact your WDF Professional team member if you would like help reviewing payroll costs and employee agreements. We can make sure you have accurate reports to make planning for the rate rise easier.
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As accountants based in Wagga Wagga, we don't just crunch numbers and put figures in boxes, we provide a carefully researched and tailored accounting solution that suits all of our clients.
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