Employers are reminded that the superannuation guarantee contribution percentage will gradually increase each year from 9 per cent (the current charge) to 12 per cent in 2019-2020. However, it should be noted that the Coalition government recently announced that if it is elected to government in the upcoming election, this increase will be postponed by two years.

In the interim, employers will need to ensure that the increased superannuation contributions are paid in each quarter in order to avoid incurring a liability for any shortfall on the superannuation guarantee charge.

Set out below is the gradual increase in the contribution percentage payable for each quarter in the relevant financial year:

Click here to view table.

Additionally, employers should be aware that from 1 July 2013, the maximum superannuation contribution base, which sets the limit on the maximum amount of superannuation an employer is required to pay, will be increased from $45,750 to $48,040 per quarter.