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What changed on 1 July?

Media release - 02 Aug 2022

$450 threshold

What changed?

Legislation came into effect on 1 July 2022 that removed the $450 per month income threshold that employees currently need to earn to be paid the superannuation guarantee by their employer.

The Federal Government notes the measure will improve the retirement savings of around 300,000 lower income workers per month, 200,000 of whom are women.

What didn’t change?

All other eligibility requirements continue to apply.

Individuals under 18, or private or domestic worker (such as nannies), will still need to work at least 30 hours per week to be eligible for superannuation guarantee contributions.

For more information, visit ato.gov.au/Business/super-for-employers/work-out-if-you-have-to-pay-super

Expansion of the First Home Super Saver Scheme

The First Home Super Saver Scheme (FHSSS) allows for voluntary contributions to be saved in super and then later released to purchase a first home.

Before 1 July 2022, individuals could contribute up to $15,000 of eligible contributions (in any one financial year) under the scheme and could have up to $30,000 in total (across all years) released for the purchase of a first home.

What changed?

From 1 July 2022, the amount of eligible contributions that can be released under the FHSSS increased from $30,000 to $50,000. The increased amount applies to requests for FHSSS determinations made after 1 July 2022 only.

What didn’t change?

  • Eligible contributions made from 1 July 2017 can count towards the total amount released.
  • The contribution limit of $15,000 in any one financial year will remain the same.
  • The usual annual superannuation contribution cap limits still apply and this may limit how much members can contribute.
  • The ATO will continue to assess eligibility and send Australian Retirement Trust a request to release eligible funds to the ATO.

You can learn more about the FHSSS at australianretirementtrust.com.au/superannuation/access/early-access/fhsss

Expansion of the Downsizer Contributions Scheme

Currently, the government allows individuals over age 65 to contribute up to $300,000 ($600,000 combined for a couple) from the proceeds of selling the family home, if owned for 10 years or more, into super.

What changed?

From 1 July 2022, retirees who downsize their family home will be able to contribute $300,000 to superannuation ($600,000 for couples) from age 60 (currently from age 65).

What didn’t change?

  • All other existing requirements will continue to apply.
  • The process for making downsizer contributions will remain the same.

Find out more about the Downsizer Contributions Scheme at australianretirementtrust.com.au/superannuation/contributions/voluntary/downsizing-contributions

Work test changes

Prior to 1 July 2022, members over age 67 needed to work a certain number of hours for super funds to accept some types of super contributions.

What changed?

From 1 July 2022, individuals ages 67 to 75 no longer need to meet the work test to make or receive personal (non-concessional) and salary sacrifice contributions to super.

Members over age 67 still need to meet the work test if they want to claim a tax deduction for their super contribution. However, super funds no longer need to consider the work test at the time contributions are received from members., iInstead, the Australian Taxation Office (ATO) will be checking to see if members met the work test when their income tax return is lodged.

Individuals under age 75 can also access the non-concessional bring-forward rule (which currently ceases at age 67). In order to use the bring-forward rule, a member must be under 75 at any time during the financial year.

What didn’t change?

  • Contributions must be received no later than 28 days after the end of the month that the member turns 75.
  • Existing annual concessional and non-concessional caps continue to apply.
  • All other existing rules for accessing the bring-forward rule continue to apply.
  • The existing rules for the work test (and work test exemption) continue to apply.
  • The age rules for contribution splits continue to apply.

For more information on the Work Test, visit australianretirementtrust.com.au/superannuation/contributions/work-test

Superannuation Guarantee increased to 10.5%

What changed?

From 1 July 2022, the Superannuation Guarantee (SG) rate increased from 10% p.a. to 10.5% of an employee’s ordinary time earnings. It's then due to rise by 0.5% each financial year until it reaches 12% p.a. by 1 July 2025.

Changes to our ABN and USI

What changed?

On 1 July 2022, Australian Retirement Trust’s ABN and USI changed:


Australian Retirement Trust Super Savings members

ABN: 60 905 115 063

USI: 60 905 115 063 003


Superannuation payments made to our old USI will be accepted until 31 October 2022.

From this date, payments using the old USI will be rejected and funds returned to the employer. Rejected payments and late contributions may have implications for your ATO obligation to pay super by the due date.

For more information, please contact your Relationship Manager or Specialist.

What didn’t change?

QSuper’s existing ABN and USIs did not change. Employers can continue to use these details to make super payments for QSuper members.

Administration fee changes

What changed?

We let members know in January that QSuper and Sunsuper had committed to reducing the fixed weekly (dollar based) administration fees once the merger was completed. We also let members know that there would be no changes to the percentage-based administration fee for most members. However, we’ve decided to opt-in from 1 July 2022 to the new fee and cost disclosure rules that all super funds are required to meet by 30 September 2022. This means that members will see an additional percentage-based administration fee disclosed in our Product Disclosure Statements from 1 July 2022 to reflect the amounts deducted from general reserves but not charged directly to their account.

From 1 July 2022, the dollar based administration fee for the below accounts reduced by 30 cents per week from $1.50 to $1.20 per week:

  • Super Savings Accumulation accounts
  • Super Savings – Business Accumulation accounts
  • Super Savings Transition to retirement income accounts
  • Super Savings Retirement income accounts.

Super Savings – Corporate Accumulation accounts

From 1 July 2022, members who paid a dollar based administration fee of more than $1.20 per week saw this reduce to this amount.

What didn’t change?

There was no change to the dollar based administration fee for members who were paying $1.20 or below before 1 July 2022, and existing employer-paid fee arrangements.

All fees and costs associated with Defined Benefit and Lifetime Pension accounts are paid by the employer and do not impact the member’s benefit. If a member has an associated Additional Accumulation account, the administration fees and costs which would ordinarily be deducted from the member’s account are also paid by the employer. There was no change to these arrangements.

Find out more

For Super Savings accounts, please refer to the Product update July 2022 available at australianretirementtrust.com.au/disclaimers-and-disclosures/significant-event-notifications.

For Super Savings - Corporate Accumulation accounts, please refer to the Changes to ongoing fees and costs factsheet available at your microsite.

Note, other existing fee arrangements remain unaffected by the fee changes.