From 1 July 2022, there will no longer be a minimum monthly threshold for an eligible employee to qualify for SG contributions.

This means that even where an eligible employee earns less than $450 in a calendar month, there is now an obligation on the employer to make SG contributions.

This is fantastic news for parents getting back into the workforce after starting a family, and young kids starting their first job that don’t work too many hrs a month!

Direct link: https://youtu.be/FMpNFJCUOOQ

Stay Safe & Happy Investing,

Aaron Kane

Managing Director

EK Financial Group