$450 per month threshold for super guarantee eligibility removed

Share on facebook
Share on google
Share on linkedin
What is Superannuation Guarantee? The superannuation guarantee, or SG, dictates the minimum percentage of your earnings your employer needs to pay into your super fund. This percentage is controlled and legislated by the Australian Government.
Date of effectThe first financial year after Royal Assent of the enabling legislation Expected to be 1 July 2022

Currently, employees need to earn $450 per month to be eligible to be paid the superannuation guarantee. This threshold will be removed so all employees will be paid super guarantee regardless of their income earned.

The Retirement Income Review estimated that around 300,000 individuals would receive additional superannuation guarantee payments each month once the threshold is removed.