The Superannuation Rate is Rising on July 1st - here's what you need to know!

Superannuation is set to increase from 9.5% to 10% on July 1st 2021.

For salary and wage payments made on or after 1st July 2021, the minimum superannuation guarantee contribution rate of 10% will need to be applied.

This means that a payroll period that falls between the 23rd-30th of June but is paid on or after 1st of July the new rate will apply!