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The Government recently passed legislation repealing the Minerals Resource Rent Tax, or "mining tax". Included in that legislation was a further deferral of increases to the rate of the compulsory Superannuation Guarantee (SG) contributions paid by employers. The amended legislation now freezes the SG contribution rate at 9.5% until 30 June 2021. The rate will then increase at 0.5% per year until reaching 12.0% from 1 July 2025. In this article we provide a link to our Superannuation Guarantee fact sheet containing details of the recent changes, as well as tips and traps that all employers should be aware of to ensure you are meeting your SG obligations.

The Government recently passed legislation repealing the Minerals Resource Rent Tax, or "mining tax".
Included in that legislation was a further deferral of increases to the rate of the compulsory Superannuation Guarantee (SG) contributions paid by employers.
The amended legislation now freezes the SG contribution rate at 9.5% until 30 June 2021. The rate will then increase at 0.5% per year until reaching 12.0% from 1 July 2025.