Newsletter – June 2021
June 29, 2021Newsletter – September 2021
September 15, 2021SUPERANNUATION GUARANTEE CONTRIBUTION
INCREASE IN SUPERANNUATION CONTRIBUTIONS FOR ALL EMPLOYEES FROM 9.5% TO 10%
Commencing on 1 July 2021 the Superannuation Guarantee (SG) rate increases from 9.5% to 10% and continue to increase annually until it reaches 12% on 1 July 2025.
The changes are the first step in a series of incremental changes that will see superannuation contributions rise over the next four years. The increases are as follows:
| Income Year | SG Rate |
| 2021-22 | 10% |
| 2022-23 | 10.5% |
| 2023-24 | 11% |
| 2024-25 | 11.5% |
PFGA Members and Picture Framers will need to update their payroll settings to reflect the 0.5% increase in the SG rate.
PFGA Members and Picture Framers requiring further information are invited to contact the Picture Framers Guild of Australia by email, admin@pfga.org.au or Neil Craven on 04129 500 609.