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The basic income guarantee (BIG) is a government insured guarantee that no citizen's income will fall below some minimal level for any reason. All citizens would receive a BIG without means test or work requirement.
Calculations are based on the minimum amount of super your employer must pay on your behalf, known as the Superannuation Guarantee Contribution (SGC). The Super Guarantee Contribution rate is currently 9.5% of your gross salary and wages, on income up to $50,810 per quarter. This rate will be increased by 0.5% on 1 July 2021. Further increments of 0.5% will apply annually up to 2025â26, when the Super Guarantee rate will be set at 12%.