Weekly Dose

Both the NSW and VIC payroll systems have been updated with the following changes, effective 1 July 202

1. Superannuation Guarantee Contributions (SGC)

The employer Superannuation Guarantee Contributions (SGC) has increased from 11.5% to 12%. The increase will apply to any payment made on or after 1 July 2025, including retrospective payments.

2. Tax

Changes have been applied to the following tax values:

• Study and Training Support Loans (STSL)
• Employment Termination Payment (ETP) cap amount has increased to $260,000
• The maximum contribution base per year for superannuation contributions for SGC has decreased to $62,500 per quarter
• The Lump Sum D for Bona Fide Redundancy and Approved Early Retirement Scheme payments tax free amounts have increased
• The Lump Sum E threshold no longer applies. All retrospective payments which accrued more than 12 months must be reported as Lump Sum E.

Income Statements – for Income Tax Lodgement

2024/2025 Income Statements will be available via your MyGov account. You can also access your income statement through your registered tax agent or by contacting the ATO to receive a copy.

If you do not have a myGov account linked to the ATO, you can phone 13 28 61 to get a copy of your income statement.

Please note that if you have multiple assignments with AWH, you may receive one income statement for each assignment.

To view your income statement

3. Login to your MyGov account
4. Select the ATO Service
5. Scroll down and select “View my income statements”
6. You will see the 2024-25 income statement under the tab “Current”
7. It will be marked either ”Tax Ready” or “Not Tax Ready”
8. If it is tax ready you can commence your 2024/25 Income Tax Lodgement