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Super guarantee rises to 10% from 2021

From 1 July 2021, the superannuation guarantee rate will increase to 10%. This marks the beginning of further planned increases of 0.5% each financial year until 1 July 2025 when it reaches a cap of 12%.

In Sybiz Visipay, you will need to update each staff type manually to ensure all employees are receiving the correct rate each financial year in line with the mandated increase.

To update the superannuation rate for a staff type, select the File menu > Lookups > Staff Types > Edit Staff Type, then click on Superannuation Guarantee tab.




The current rate of 9.5% was set in 2014, so it is important you and your employees are ready for these coming increases. The financial years and corresponding superannuation guarantee rates are listed in the table below.


 
Financial Year Superannuation Rate
1 July 2014 – 30 June 2021 9.5%
1 July 2021 – 30 June 2022 10%
1 July 2022 – 30 June 2023 10.5%
1 July 2023 – 30 June 2024 11%
1 July 2024 – 30 June 2025 11.5%
1 July 2025 – 30 June 2026 12%

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