Changes to Super

From 1/7/14 employers have to pay 9.5% super, an increase of .25%.

This rate will remain in place until 1/7/18 when it will go up to 10%.

Every year following that the rate will increase a further .5% until it reaches 12% on 1/7/22.

Did you know that under the Liberal government’s proposed paid parental leave scheme super is paid in addition to the 6 months’ salary?

Under the current scheme an eligible parent receives 18 weeks of the minimum wage (currently $640-90 per week) but no super.

SuperStream is a new Federal government initiative. Check out the ATO website to see how it will affect your business.

 

 

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