Superannuation Rate Change

Lynne_8946547

I would like to clarify something.

The superannuation rate is changing from 9.5% to 10% on the 1st July 2021.

It is my understanding that if I change the rate for the Super Item in the Payroll items list that this will only apply for any new employees started after I make that change. For all existing employees I have to go into each payroll record and manually change the rate to 10%.

Is this correct?

Thanks for any support/advice

Lynne

Acctd4

The 2021 R2 Patch update (being released in the next couple of weeks) includes a feature that changes this (from 9.5% > 10%) automatically in all pays processed from 1st July onwards so no manual adjusting/editing required now 😊