On 29 March 2012 the Superannuation Guarantee (Administration) Act 1992 was amended to allow for incremental increases in the Superannuation Guarantee Charge (SCG) percentage from 9% to 12%. The percentages will increase incrementally as follows:

Financial Year                                                Super guarantee charge percentage

1 July 2013 - 30 June 2014                                                     9.25%

1 July 2014 - 30 June 2015                                                     9.5%

1 July 2015 - 30 June 2016                                                     10%

1 July 2016 - 30 June 2017                                                     10.5%

1 July 2017 - 30 June 2018                                                     11%

1 July 2018 - 30 June 2019                                                     11.5%

1 July 2019 - 30 June 2020 onwards                                         12%

As a result of the above on a wage of $1,000 there will be an increase in the amount of super payable of $2.50 from the 2013 to 2014 financial year ($90 in 2013 to $92.5 in 2014)