Super Guarantee (SG) Rate Increase: 1 July 2024
On 1 July 2024, the super guarantee (SG) rate will rise from 11% to 11.5%.
If you have employees or eligible contractors, you'll need to ensure your payroll and accounting systems are updated to incorporate the changes.
You can find the scheduled rate increases and dates on the ATO website.
Minimum Wage increase: 1 July 2024
The Fair Work Commission has announced:
- the National Minimum Wage will be increased to $915.90 per week or $24.10 per hour
- a 3.75% increase to minimum award wages.
The increase applies from the first full pay period starting on or after 1 July 2024.
* *ATO Scam Alerts * *
myGov or myGovID
The ATO are receiving reports of a new email scam that asks people to update their myGov or myGovID details.
Scammers pretending to be from the ‘myGov customer care team’ are sending emails telling people they need to verify their identity by clicking on a link.
Do not click the links and do not provide the information requested.
Suspended TFN
We have also had numerous reports of scammers pretending to be from the ATO tell people their tax file number (TFN) has either been suspended due to illegal activity or compromised by a scammer.
They request the call recipient either pay a fine to release their TFN or transfer all bank funds into a holding account to protect it from future misuse.
The ATO does not suspend TFNs and will never request you pay a fine or transfer money in order to protect your TFN pending legal action.
Phone calls from the ATO do not project a number on caller ID and we will never send unsolicited pre-recorded messages to your phone.
If you receive a phone call like this, hang up and do not provide the information requested.
If you’re unsure whether an ATO contact is genuine, phone the ATO directly on 1800 008 540 to check.
If ever in doubt, please contact our office.
Please also warn your family and friends & visit the ATO scam alerts page for regular updates.
Fake COVID-19 Texts
Scammers are pretending to be government agencies providing information on COVID-19 through text messages and emails. These contain malicious links and attachments designed to steal your personal and financial information.
Do not click on any links or respond to any messages that ask for personal information.