{"id":123,"date":"2017-09-14T14:13:02","date_gmt":"2017-09-14T14:13:02","guid":{"rendered":"https:\/\/dixon-appointments.ap.applyflow.com\/employers-superannuation-updates-superannuation-update-2013-percentage-increases\/"},"modified":"2024-12-12T19:02:37","modified_gmt":"2024-12-12T19:02:37","slug":"superannuation-update-2013-percentage-increases","status":"publish","type":"page","link":"https:\/\/www.dixonappointments.com.au\/employers\/superannuation-updates\/superannuation-update-2013-percentage-increases\/","title":{"rendered":"Superannuation Update 2013 – Percentage Increases"},"content":{"rendered":"

Superannuation Update 2013 – Percentage Increases<\/h1>\n

Employer contributions for superannuation are set to increase. Over the next eight years incremental increases will see a rise from the current rate of 9% up to a rate of 12% in 2020.<\/p>\n

Plan now to factor this into your remuneration strategies, wages costing and employee benefits plans. Ensure you are ready to meet the new reporting and compliance requirements.<\/p>\n

Dixon Appointments’ guidelines for salary and wages advice will ensure you are prepared.<\/p>\n

What you need to know<\/h2>\n

\"\"<\/p>\n

To help grow Australian workers' savings for retirement, the compulsory superannuation guarantee rate will gradually increase from 9% to 12%.<\/p>\n

If you make superannuation payments on behalf of your employees based on the minimum 9% superannuation guarantee rate, you will need to increase this rate to 9.25% on 1 July 2013.<\/p>\n

What you need to do<\/em><\/h2>\n

Update your payroll and accounting systems to include the increase to the superannuation guarantee rate.<\/p>\n

From 1 July 2013, increase the rate you use to work out the superannuation guarantee payments you make for your employees from 9% to 9.25%.<\/p>\n

Increase the rate you base your superannuation guarantee payments on each year from 2013 until 1 July 2019.<\/p>\n

Annual Increase Guide<\/em><\/h2>\n

The super guarantee rate increases to 12% over seven years, as shown in the table below.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n
Year<\/td>\nRate<\/td>\n<\/tr>\n
2012-2013<\/td>\n9.00%<\/td>\n<\/tr>\n
2013-2014<\/td>\n9.25%<\/td>\n<\/tr>\n
2014-2015<\/td>\n9.50%<\/td>\n<\/tr>\n
2015-2016<\/td>\n10.00%<\/td>\n<\/tr>\n
2016-2017<\/td>\n10.50%<\/td>\n<\/tr>\n
2017-2018<\/td>\n11.00%<\/td>\n<\/tr>\n
2018-2019<\/td>\n11.50%<\/td>\n<\/tr>\n
2019-2020<\/td>\n12.00%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Legislative and Reporting Changes<\/em><\/h2>\n

You should also take into account the potential impact of changes in legislation and reporting. These include:<\/p>\n