The Super Guarantee legislation requires businesses to make a contribution to eligible employees for their retirement.
The SG rate will increase on 1 July to 10% and then continue to increase each year until it reaches 12% on 1 July 2025.
Super Guarantee rate increases
| 1 July 2021 |
10% |
| 1 July 2022 |
10.5% |
| 1 July 2023 |
11% |
| 1 July 2024 |
11.5% |
| 1 July 2025 |
12% |
Contributions must be paid on a quarterly basis, however you can also choose to pay monthly or fortnightly.
Quarterly Superannuation Guarantee (SG) deadlines
| SG quarter |
Date payment due |
| 1 July – 30 September |
28 October |
| 1 October – 31 December |
28 January |
| 1 January – 31 March |
28 April |
| 1 April – 30 June |
28 July |
If you currently use a software program like xero or myob for your payroll and superannuation, then calculations will automatically be updated for the first payrun of the new financial year.