As you may be aware from 1 July 2021 the SGC for super has increased to 10%. In addition the concessional cap has increased to $27,500.
Both of these will affect the amount you can salary sacrifice each pay and stay within the caps. Therefore if you are an employee you may need to adjust your salary sacrifice with your employer before the next payrun.
If you are an employer using MYOB you need to manually change the super rate from 9.5% to 10% on each employees record. If you are using Xero it changes it automatically for you.
And for all employers, don’t forget you need to go through the process of finalising the 20/21 STP as soon as possible. Instructions will be within your STP software but if you need assistance please call me.
Lindsay 0413 952 180