In general, you must pay super if your employees –
- Earn $450 or more (before tax) in any month
- Are over 18 years of age
- Are under 18 and work at least 30 hours a week.
As an employer, you need to make super contributions –
- At least quarterly
- In a standardised format that meets SuperStream requirements
- To a complying super fund.
Your employees can choose their own super funds, but if they don’t make a selection 2 months before commencement, you need to choose one for them.
How much super do employers need to pay?
The minimum you need to pay is 9.5% of any eligible employee’s ordinary time earnings (OTE).
This minimum will rise to 10% on 1 July 2021.
When are employer super contributions due?
You must make your super contributions at least four times a year by the deadlines shown in the chart below. If you’d like, you can make super payments more regularly than just four times a year. Just remember to make sure: You pay the correct amount of super by each quarterly deadline.
You can check your clearing house’s deadline for receipt of payments (if you’re using one to make contributions).
If you miss your deadlines, you may need to pay the ATO a penalty on top of the contribution amount the following month.
We’re a complying super fund
As the largest Catholic super fund in Australia, we provide super and retirement services to a wide range of organisations, both Catholic and non-Catholic.
We’re a fully compliant, resident and regulated super fund.
We can be nominated as a default fund through our MySuper solution, LifetimeOne and we’re SuperStream compliant.
Want to know more about your super obligations?
If you want to understand your super obligations at a deeper level or need general financial advice, please give us a call on 1300 658 776
We’re here to help.