changes to super guarantee - 1st July 2022

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Alex_10836088
Alex_10836088 Member Posts: 40 ✭✭

Apologies if this has been covered before but i couldn't find info on it in any forums - Regarding new changes coming in July 2022 to increase SG to 10.5% and remove the $450 threshold

Can anyone confirm whether Reckon Accounts Desktop and Recon Payroll Premier will cover this in their usual update or do we need to make any changes ? - specifically the changes to $450 threshold ?


Thanks

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  • Acctd4
    Acctd4 Accredited Partner Posts: 3,589 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
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    We've not had official notification from Reckon but last time it increased, it was automated within the Update release so I would imagine the same will apply this time also 😊

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    shaz@accounted4.com.au

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
  • Alex_10836088
    Alex_10836088 Member Posts: 40 ✭✭
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    Thanks Shaz - was thinking the same for the percentage increase but the threshold change to pay super to staff earning under $450 is a new rule so thought I'd check on that one

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,589 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited May 2022
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    I'm thinking the $ 450 threshold removal will not be automatic as there are scenarios where it will still be applicable (eg under 18's/domestic workers/contracted employees working less than 30 hrs p/wk)

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    shaz@accounted4.com.au

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
  • Rav
    Rav Administrator, Reckon Staff Posts: 16,032 Community Manager Community Manager
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    Hi guys,

    The upcoming tax table for Reckon Accounts (Desktop) 2022 will accommodate changes to Super Guarantee default % and also the threshold removal. The tax table update is scheduled to release in the second half of next month.

    We're putting some finishing touches on documentation that will cover the specifics on how it will work but I believe the 'Monthly Minimum Threshold' amount for Super Payroll Item types will automatically be updated to $0.00 during the upgrade. Could be subject to change so don't take that as official just yet but we'll have more info coming soon so stay tuned.

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