Increase of the compulsory superannuation guarantee rate from 9% to 9.25%.

Remember to adjust your calculations and check that your payroll software is processing superan-nuation payments at the new rate.

The upper age limit for compulsory superannuation has been removed.

This means that superannuation guarantee will be payable for employees regardless of their age and you will need to start making payments for your employees aged 70 years and over.

Proposed payslip changes

The government has proposed changes to how employers report super contribution information on an employee's payslip. The requirements for payslips are still being finalised and no change is necessary for 1 July 2013.

The government is expected to make a further announcement to confirm the payslip reporting re-quirements and advise a new commencement date.