Reduction in Superannuation Guarantee (SG) rates

As the abolition of the Mineral Resources Rent Tax was unsuccessful, the rate for SG will be frozen at 9.50% for four years instead of two, starting from 2014/2015 Financial Year. After the 2017/2018 Financial Year, the SG rate will increase 0.5% every year and reach 12% at the 2022/2023 Financial Year.

The table below shows the currently legislated rates which was introduced by the Labor Government, compared to the proposed SG rates in the 2014-2015 Federal Budget.

For more info regarding contributions, please see here:

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