The 2022 Budget confirmed that the mandatory Employer Superannuation Guarantee increases to 10.50% from 1 July 2022.
This increase was originally scheduled for 1 July 2016 however, the Government amended the legislation before this date, postponing these rate rises.
At this stage, the Government still plans to increase the mandatory Employer Superannuation Guarantee by half a percent per year for the next 4 years until reaching 12.00% on 1 July 2025.
Once Version 23.00 is installed, the following alert will be displayed,
Please select Yes to automatically increase all Awards and Employees which are presently set to 9.00%, 9.25%, 9.50% and 10.00% to 10.50% Super.
Otherwise to manually increase all Awards and Employees to 10.50% Super, please select No and follow Manually increase the Employer Superannuation Guarantee Percentage