28 Jun 2023
Superannuation Guarantee Contribution (SGC): Pay rise
- Posted by Dejan Pekic BCom DipFP CFP GAICD, Senior Financial Planner
From 1 July 2023 compulsory superannuation which is known as the superannuation guarantee (SG) rises to 11.0% for all salary and wage earners.
It is legislated to reach 12% from 1 July 2025 (Source ATO).
| Period |
Superannuation Guarantee Contribution |
| 1 July 2022 – 30 June 2023 |
10.50%
|
| 1 July 2023 – 30 June 2024 |
11.00%
|
| 1 July 2024 – 30 June 2025 |
11.50%
|
| 1 July 2025 – 30 June 2026 and onwards |
12.00%
|
Yes we do understand that it is a cost to business however disciplined saving is always good.
If you have family, friends or colleagues that want financial advice please ask them to contact us and we will work out how best to help.
At Newealth we are always looking to support and promote our clients wherever possible and if you have any ideas or comments, please feel free to email me or to call me on +61 2 9267 2322.
