The super guarantee goes up today, 1 July, to 11.5%.
That means you’ll need to adjust your payroll systems to contribute an extra 0.5 percentage points to your employees’ superannuation funds.
The super guarantee is the minimum amount employers must contribute to their eligible employees’ super. It’s a percentage of their ordinary time earnings.
Updating your payroll system is crucial to ensure you’re compliant with the new rate. Most payroll software allows for easy adjustments to the super guarantee contribution percentage.
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