On 1 July 2022, the Australian Government will remove the $450 minimum monthly income threshold that has been in place to determine eligibility of employees to receive Super contributions payable by you, as the employer.
In other words, in the past, employees had to earn $450 before they were to be paid super (and if under 18 they had to work 30 hours). Now every eligible employee will need to be paid super no matter how much they earn, or work.
From 1st July, as an employer, you will be required to pay 10.5% minimum super (up from a flat 10%, also applicable as at 1st July, 2022), to each employee. And a reminder you are required to have an available super fund to make payments in to on behalf of your employees, should they not have their own.
For more information in regards to the Super changes please visit the ATO links provided below.
