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03 Jun 2021 Superannuation

Superannuation guarantee charge rate rising on 1 July 2021

On 1 July 2021, the superannuation guarantee charge rate will rise from 9.5% to 10%. If you have employees, you will need to ensure your payroll and accounting systems are updated to incorporate the increase to the superannuation rate.

If you need help to work out how much superannuation you need to pay for your employees after 1 July 2021, you can use the ATO’s superannuation guarantee contributions calculator.

More information can be found here.

Information for APRA-regulated funds

APRA funds must use the SuperStream standard to process electronic release authorities after they have transitioned to SuperStream Rollovers version 3.

More information can be found here.

APRA-regulated funds: Services and support

The ATO has a wide range of services and support to help large superannuation funds interact with them, stay up to date and find the information and guidance you need.

Services and support resources can be found here.

Rollover benefits

Members of superannuation funds can request that their superannuation benefits be transferred (rolled over).

Find out about:

SMSF member TICK

SMSF trustees are required to use the SMSFmemberTICK service to verify the member TFN before they can roll out member benefits to another fund.

More information can be found here.

Gateway Network

The Gateway Network Governance Body Ltd (GNGB) is a superannuation industry owned not-for-profit organisation facilitating the transfer of electronic data messages compliant with the SuperStream Data and the Standard – for example, an employer sending information about superannuation contributions for an employee to their superannuation fund. They operate a Memorandum of Understanding made with Gateway Operators in the superannuation industry.

The GNGB has taken over the stewardship role which was previously held by the ATO. The ATO now only acts as an observer and is not a member of the GNGB.

More information can be found here.

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