Update- Superannuation Guarantee (SG) Legislation to increase the Superannuation Guarantee (SG) has passed the Senate and is awaiting Royal Assent. The SG rate will increase from the current 9% to 12% from the 1 July 2013 as follows: Year | Rate | | | | | 2013/14 | 9.25% | | 2014/15 | 9.50% | | 2015/16 | 10.00% | | 2016/17 | 10.50% | | 2017/18 | 11.00% | | 2018/19 | 11.50% | | 2019/20 | 12.00% | | | |
The SG age limit of 70 is abolished from 1 July 2013 and expected to provide an incentive for around 51,000 mature age workers to remain in the workforce. Please note that to ensure a comfortable retirement voluntary contributions will still need to be made into superannuation because a 12% SG is just not enough. At Newealth we are always looking to support and promote our clients wherever possible and if you have any ideas or comments, please feel free to email me via ‘Contact Us’ at www.newealth.com.au or to call me on +61 2 9267 2322.
24th-April-2012 | 
