The Federal Government announced in the 2020/21 Budget that it would remove the $450 per minimum monthly threshold in order to expand coverage of the super guarantee.
Therefore, from 1 July 2022, employers will now be required to make super guarantee contributions to their eligible employee’s super fund regardless of how much the employee is paid.
Employers should ensure accounting systems are up to date and that the superannuation payments for all staff are up to date as of 1 July.
If you have any questions regarding these changes, please contact us as soon as possible on 08 8272 5620.