King & Wood Mallesons

Asia-Pacific 100 position: 3

Be prepared — superannuation obligations increase 1 July 2013

In March 2012, the Federal Government enacted the Superannuation Guarantee (Administration) Amendment Act 2012. The act introduces important changes to employer superannuation obligations, effective 1 July 2013. Further changes will flow through in subsequent years. These are outlined in this brieing.

The Act increases the amount of minimum SG contribution an employer is required to make in relation to each employee.

At present, the minimum SG contribution required is 9% of the relevant employee’s salary or wages, up to the “maximum SG contribution base”…

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