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SMSF Updates

Superannuation Changes after 1 July 2022

20 Apr, 2022

Changes to super for under-18s 
From 1 July 2022, employers will need to pay super for their employees who are under 18 years old if they work more than 30 hours for you in a week, regardless of how much they are paid. This is because the $450-per-month threshold for super guarantee is being removed.

Changes to the work test when making superannuation contributions 
From 1 July 2022, fund members under 75 years of age will no longer have to meet the work test to make superannuation contributions.

Excess concessional contribution charge 
Individuals who make contributions on or after 1 July 2021 that exceed their cap, will no longer be liable to pay the ECC charge.



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