subscribe to our newsletter
ATO issues SG rate reminder to employers

ATO issues SG rate reminder to employers

27 October 2014 — 1 minute read

The ATO has issued a reminder of the increase in compulsory minimum super payments employers make ahead of the first quarterly superannuation payments under the new rate.

Employers who make superannuation payments quarterly on behalf of their employees should be aware the super guarantee rate increased from 9.25 per cent to 9.5 per cent as of 1 July this year, said assistant commissioner at the ATO, Emma Haines.

“Employers must pay super guarantee contributions for each eligible employee at least four times a year and the first quarterly contributions need to be paid by 28 October,” Ms Haines said.

“Employers can use the ATO’s online superannuation guarantee contributions calculator to work out how much super they must contribute for eligible workers.”

The superannuation guarantee increase has now been put on hold for seven years until 30 June 2021, and will not now reach 12 per cent until 1 July 2025.

ATO issues SG rate reminder to employers
smsfadviser logo
join the discussion

Are you currently covered by an AFSL to provide limited or full financial advice?


Get the latest news and opinions delivered to your inbox each morning

In this month's issue:

  • Time wrap
  • The tech bull run
  • From hobby to passion
  • Golden Years
  • An untimely reminder
  • Why change is so difficult
  • Key Strategies for equalising super