Increase to employer superannuation payments

[Andrew from Vista Financial]

As of 1 July 2013 the employer Superannuation Guarantee Contribution (SGC) will increase from the current 9% of salary to 9.25% of salary.

 

Then each year thereafter will continue to gradually increase until 1 July 2019 whereby the payment will be 12% of salary.

 

See here also for further information http://www.futuretax.gov.au/content/Content.aspx?doc=FactSheets/super_guarantee_rate_to_12_percent.htm

 

 

Regards

 

 

Andy

[Jessica Berry]

This will also have implications when people negotiate their salary package deals.

[foxychick]

I understand the government is concerned about people going into retirement and are placing the burden on the employer to rectify this problem, however, my concern with this is that it will begin to impact on the number of people an organisation employs, as their wage bill is going to increase by at least 3%, maybe they will just start trimming staff?? Especially in an environment that is getting harder and harder to operate in cost wise.