| Current rate | 9.00% |
| 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% |
Super contributions for employees to rise
The super guarantee (required employer super contribution) is set to rise from 9% to 9.25% and then gradually increase to 12% of the next 6 years.
This will clearly increase costs of employing staff across the board. This change is being implemented by the Government to make it easier for Australians to save for their future.
The below table illustrates the gradual change: