Change Superannuation Guarantee Standard rate

The federal government is increasing the Super Guarantee percentage.

Refer: https://www.ato.gov.au/rates/key-superannuation-rates-and-thresholds/?anchor=Superguaranteepercentage

You must change your Payroll system to reflect this before the first pay of that Year.

For example, the first pay after 1 July 2021 will have the new rate of 10%.


To change this in Minder:-

  • Payroll

    • System Defaults

      • Company Super % (Left hand side, towards the bottom).

 

  • For ‘Most’ companies, the 2 values will be the same.

  • However if you pay above the standard ATO rate, your ‘bonus rate’ will appear in the first column. It is the first column that is used for the calculation. The difference between the two entries is used to calculate the ‘Excess to SGC’ which is reported via STP.

  • click OK


Individual employees may have a different rate set as part of their employment agreement.

You should ensure that the percentage set for the individual is not less that these SG rate for that year.

To check,

  • Payroll

    • Maintenance

      • Employee Super

        • Select the employee.

      • The Super % is at the top.


  • Procedure Complete.