Superannuation Guarantee Increases
From 1 July 2013 the Superannuation Guarantee(SG) will increase from the current 9% to 9.25% of wages.
The rate will increase by 0.25% on 1 July 2014 and then increase by 0.5% each year until 2019 when it will be 12%. This is based on current legislation and may change over this period. It is important to factor in the increase in SG into wage reviews of employees. Also, the current age limit of 70 for SG will be removed from 1 July 2013.