Super Guarantee Charge

| Admin

SMSF Warehouse Guarantee Charge in Australia

Ensure you’re paying the right super to your employees.

Whether you’re paying super for your employees weekly, monthly or quarterly, ensure that the following changes from 1 July 2024 are reflected:

  • The super guarantee (SG) rate has increased from 11% to 11.5%
  • That Concessional Contribution Caps has increased to $30,000, further information can be found here.

If super obligations are not met, a super guarantee charge (SGC) will apply. To avoid this, ensure the right amount of super is being paid to all eligible employees by the quarterly due date.

More information on the Superannuation Guarantee Charge is explained here.

Employees under 18

Employees who are under 18 years old must get SG paid if they work more than 30 hours in a week, regardless of how much you pay them.

Before 1 July 2022, an employee aged under 18 years was only paid super guarantee if they worked for you more than 30 hours in any week and you paid them $450 or more (before tax) in salary or wages in a calendar month.


Latest Posts

Have Questions?
Ask Superannuation Warehouse experts