What is the $450 Super Guarantee Charge?

It is important to check if your employer is paying the right Super Guarantee (SG) into your super no matter if you are getting your super paid weekly, monthly or quarterly.

From 1 July 2022, there are some new updates regarding the Super Guarantee:

  • The Super Guarantee rate increases from 10% to 10.5%
  • The removal of the $450 per month eligibility when paying super (now, all ordinary time earnings have to be paid super)

You must have applied these changes to all the salary and wages you are paid even if some of the pay periods are related to the year before 1 July 2022.

All other eligibility requirements for super remain in place.

Employees under 18

Employees who are under 18 years old must get SG paid if they work more than 30 hours in a week, regardless of how much you pay them.

Before 1 July 2022, an employee aged under 18 years was only paid super guarantee if they worked for you more than 30 hours in any week and you paid them $450 or more (before tax) in salary or wages in a calendar month.

What employers need to do

Employers should make sure:

  • The payroll and accounting systems are up-to-date and apply the new changes
  • All eligible employees are paid for the right amount of SG
  • Full SG is paid by the due date

Have Questions?
Ask Superannuation Warehouse experts

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