Blog & Resources
What is the new Superannuation Charge Guarantee (SCG) Charge percentage for the 2014 financial year?
On 29 March 2012 the Superannuation Guarantee (Administration) Act 1992 was amended to allow for incremental increases in the Superannuation Guarantee Charge (SCG) percentage from 9% to 12%. The percentages will increase incrementally as follows:
Financial Year Super guarantee charge percentage
1 July 2013 - 30 June 2014 9.25%
1 July 2014 - 30 June 2015 9.5%
1 July 2015 - 30 June 2016 10%
1 July 2016 - 30 June 2017 10.5%
1 July 2017 - 30 June 2018 11%
1 July 2018 - 30 June 2019 11.5%
1 July 2019 - 30 June 2020 onwards 12%
As a result of the above on a wage of $1,000 there will be an increase in the amount of super payable of $2.50 from the 2013 to 2014 financial year ($90 in 2013 to $92.5 in 2014)