Super is paid according to the Superannuation Contribution Guarantee. The rates are changing as follows:
Financial Year | Super guarantee charge % |
1 July 2014 – 30 June 2021 |
9.5% |
1 July 2021 – 30 June 2022 | 10% |
Years thereafter | According to the following schedule: https://www.ato.gov.au/rates/key-superannuation-rates-and-thresholds/?page=22#Super_guarantee_percentage |
Up until 30 June 2022 – You are entitled to super if you earn >$450 per month or more before tax in a calendar month.
From 1 July 2022 – 30 June 2023, eligible employees who earn less than $450 per month will also be paid super guarantee by their employer if they satisfy the other eligibility requirements, at a rate of 10.5%. |
(Last Updated on September 1, 2022)