From July 1 2022, employers will be required to make super guarantee contributions to their eligible employee’s super fund regardless of how much the employee is paid.

Businesses will need to check their payroll and accounting systems have been updated for super payments made after 1 July 2022 to ensure they correctly calculate their employee’s super guarantee entitlement.

The previous $450 per month threshold has been removed to expand coverage of super guarantee to eligible employees regardless of their monthly pay.

Guidance, online tools and calculators will be released on 1 July 2022 to accommodate this change.

If you would like guidance on how this will work for your business, please contact us or email afs@afsbendigo.com.au.