Need help calculating how much super to pay? Use the Australian Taxation Office's (ATO)Super guarantee contributions calculator What are the super payment due dates? You’re required to pay super for eligible employees from the day they start their employment by quarterly super due dates. ...
the employer to pay the unpaid super. Failure to abide by a penalty notice can result in significant fines and possible imprisonment for company directors. The charge is not tax deductible; another reason why most employers do the right thing and make their super guarantee contributions on time....
3. Pay the Superannuation Guarantee The Super Guarantee (SG) is a compulsory contribution made by all employers on behalf of each of their eligible employees. The contribution is paid directly to each employee’s nominated super fund, or a default fund on their behalf. ...
Making super payments on time isn’t just important for your employees, it’s important for your business. Employers who make SG contributions in line with the ATO’s deadlines can claim the payments as a tax deduction and will avoid paying a super guarantee charge (SGC) to the ATO. What ...
3. The Super Guarantee system and enterprise agreements Unless a specific enterprise agreement or award states otherwise, employers are required to pay a set rate of superannuation into each eligible employee’s super fund. The rate is 11.5% of the employee’s income and is set to increase grad...
Salary sacrificed super contributions won’t reduce the ordinary time earnings your employer is required to calculate your super entitlement on or count towards the amount of super guarantee contributions that your employer is required to make to avoid the super guarantee charge. 1 Salary sacrifice ma...