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May_bk14789(Newbie)Newbie
12 July 2022

Hi All, trust you're keeping well!


If I could please request some guidance regarding the increased SG Rate?

My understanding of the SG Rate is that the rate to use is based on the wages payment date regardless of when the Super is actually paid into the employee's Superfund ie if wages is paid on or before 30 June 2022, the SG Rate to pay is 10%.

However, my boss' understanding is that if the Super Guarantee is paid after 30 June 2022, SG Rate to use is 10.5% even if the payment of the wages is made on or before 30 June 2022.


Hope you could share any guidance/articles to confirm if what SG Rate to use if the Super is actually paid into the Superfund after 30 June 2022.


Thank you!

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EdenATO(Community Support)Community Support
13 July 2022

Hello there @may_bk4789

 

The rate you will need to use depends on the date the employee is paid. Only payments made to employees on and after the 1st of July 2022 will have the 10.5% SG rate applied. This is keeping in mind that when the income was earnt makes no difference.

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Most helpful reply

EdenATO(Community Support)Community Support
13 July 2022

Hello there @may_bk4789

 

The rate you will need to use depends on the date the employee is paid. Only payments made to employees on and after the 1st of July 2022 will have the 10.5% SG rate applied. This is keeping in mind that when the income was earnt makes no difference.

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What SG Rate to use for quarter ending June 2022 Wages, is it 10% or 10.5%? | ATO Community