Changes to Superannuation



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IMPORTANT: The Federal Government legislated an increase to the superannuation guarantee, which will increase by 0.5% to 10% on 1 July 2021. 

Artisan will be collecting and paying Superannuation to our freelance and contract candidates on your behalf, which may mean you will minimal increase to charge rate to cover the 0.5% Superannuation contribution increase.

Superannuation is paid on ordinary hours only, the employer (Artisan/Entity Solutions) will also make superannuation contributions on your behalf in accordance with the Superannuation Guarantee (Administration) Act 1992. 

The Legislation

The 2021 Federal Budget outlines the Government’s economic forecasts along with a range of initiatives aimed at fast tracking Australia’s economic recovery following the Covid-19 pandemic, which the Government indicates has been much better than expected.

The Federal Government has maintained the legislated increase to the superannuation guarantee, which will increase by 0.5% to 10% on 1 July 2021. 

 

You can find more information on the Australian Government Federal Budget Fact Sheet here

 

 

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