30 May 2022

New minimum superannuation obligations

by Lawlux

From 1 July 2022, employers must pay superannuation to employees, even if they earn less than $450 per month.

The superannuation guarantee rate will also increase from 10% to 10.5%.

Employers must use the new rate to calculate superannuation on payments they make to employees on or after 1 July, even if some or all of the pay period is for work done before 1 July.  The rate is legislated to increase to 12% by 2025.

Importantly, employers are only required to pay superannuation for workers under 18 years of age when they work more than 30 hours in a week.

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