Small business operators don’t get caught out from the 1st July 2022 the Super Guarantee (SG) rate has increased to 10.5% from 10% on Ordinary Times Earnings (OTE). I have recently been assisting a client who’s payroll software did not adjust for the increase and it can be costly and time consuming to navigate through late SG payments so don’t get caught out!
Things to do to ensure you comply with the latest changes;
- Check your payroll codes and confirm the correct rate of SG for all employees
- Ensure that your payroll software is up to date and any updates have been downloaded
- Check with your accountant should you have any queries or concerns.