You need to be aware of these changes as they will not only affect your current employee costs but also need to be considered when negotiating remuneration for new employees.

The Super Guarantee Percentage will increase from 10.5% to 11% for super accrued on payroll processed from 1 July 2023.

It will progressively increase by another 0.5% each 1 July following until it reaches 12% on 1 July 2025.