The 2023 Budget confirmed that the mandatory Employer Superannuation Guarantee increases to 11.00% from 1 July 2023.
This increase was originally scheduled for 1 July 2017 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 24.00 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%, 10.00% and 10.50% to ^11.00%* Super.
Otherwise, to manually increase all Awards and Employees to 11.00% Super, please select No and follow Manually increase the Employer Superannuation Guarantee Percentage