Superannuation guarantee

Employer super quick check

Paying super is an important part of being an employer. Super provides income for your workers in retirement.

Here’s how to run a quick check of your super obligations to make sure you’ve got everything sorted:

  • Check you’re paying super to all eligible workers.
    • Some contractors may be entitled to super.
  • Check you’re paying the right amount.
    • Currently you need to pay a minimum of 9.5% of their ordinary time earnings.
  • Check you’re paying on time.
    • It’s tax deductible against your business income.
    • At a minimum, pay super quarterly.
    • If you don’t pay on time, you need to pay a superannuation guarantee charge, which is not tax deductible.
  • Check you’re paying to the right place.
    • Pay super into your worker’s fund of choice.
    • If they haven’t given you the details, pay it into your default fund.
  • Check you’re paying the right way.
    • Pay the SuperStream way – where both payments and data are sent electronically in a standard format.
    • You may be able to use the free Small Business Super Clearing House to distribute payments to your employees’ super funds.
    • Single Touch Payroll is the next step in streamlining your payroll reporting.
  • Check you’re keeping accurate records.
    • Keep evidence to show you’ve met your obligations.
Employing people involves lots of obligations, including superannuation. We have the tools and advice to help you get it right – call the team at Omnis Group in Perth on 08 9380 3555.

Related reading

Super Guarantee (SG) Amnesty

Source: ATO