IMPORTANT: The Federal Government legislated an increase to the superannuation guarantee, which will increase by 0.5% to 10% on 1 July 2021.
Artisan has this all covered for you, when in a job we collect and pay Superannuation to you as a freelancer or contractor. We're just letting you know that you will notice a very minimal increase in contribution.
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 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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