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Compulsory super increase

Employers have been reminded of an increase in the compulsory minimum superannuation contributions they are required to make on behalf of eligible employees.

The Australian Taxation Office has issued an alert that the first quarterly contribution following the mid-year increase in the Superannuation Guarantee rate from 9.25 to 9.5 per cent is due by 28 October.

“Employers must pay super guarantee contributions for each eligible employee at least four times a year, and the first contribution needs to be paid by 28 October,” ATO Assistant Commissioner Emma Haines said.

Adrian Rollins