$450 super guarantee threshold removed
From 1 July 2022, the $450 threshold test will be removed and all employees aged 18 or over will need to be paid superannuation guarantee regardless of how much they earn.
It is important to ensure that your payroll system accommodates this change so you do not inadvertently underpay superannuation.
For employees under the age of 18, super guarantee is only paid if the employee works more than 30 hours per week.
Related Insights
Tony Bedworth embraces a “Sea Change” while staying committed to clients
Tony Bedworth embraces a “Sea Change” while staying committed to clients
Tony Bedworth begins a four-day remote role from Airey’s Inlet, maintaining full client support and continuity at Murray Nankivell.
Cybersecurity Tips to help keep you and your information safe
Cybersecurity Tips to help keep you and your information safe
Protect your financial data with strong passwords, MFA, phishing awareness, updates, secure Wi-Fi, account monitoring, backups, and trusted cyber advice.
Now & Next – Issue 25
Now & Next – Issue 25
Retirement spending shifts across three stages, requiring adaptable planning and income strategies to balance early lifestyle goals, later stability, rising care costs and longevity risk.
We are here for you
We look forward to working with you to help you achieve a better financial future. Let us guide you on the path to financial success.
Contact your preferred Murray Nankivell office today.
