Superannuation Rate Frozen

The Government will follow through on its pre-election announcement to freeze the current 9.25% Superannuation Guarantee for a further two and a half years. Under the current law which was introduced by the former Labor Government, the Superannuation Guarantee rate (currently 9.25%) was to increase to 9.5% on 1 July 2014, incrementally increasing to 12% by 1 July 2019. The new Government, however, has re-calibrated the gradual increase to 12% as follows:

Income Year Charge % Under Existing Law Governments Proposed Law
2013 / 2014 9.25% 9.25%
2014 / 2015 9.50% 9.25%
2015 / 2016 10.00% 9.25%
2016 / 2017 10.50% 9.50%
2017 / 2018 11.00% 10.00%
2018 / 2019 11.50% 10.50%
2019 / 2020 12.00% 11.00%
2020 / 2021 12.00% 11.50%
2021 and future years 12.00% 12.00%

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