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|
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, email@example.com or Neil Craven on 04129 500 609.