What is Super?
Super is the money you pay for your employees to provide for their retirement.
Do you have to pay super?
· If your worker’s salary/wage is $450 or more (before tax) in a month, you are required to pay super obligations for their retirement on top of their wages.
How much and how you have to pay?
· The SG is 9.5% of ordinary times earnings (OTE) such as commissions, allowances and shift loadings
· Pay at least 4 times a year, quarterly periods
· Report super electronically in a standard format, meeting Superstream requirement
· Super payments must go to payment funds or employee’s chosen fund
Requirement for super eligibility:
· Domestic workers
· Works for at least 30hrs/week
When you do not have to pay super:
· When employees are foreigners who holds visas and entry permit
· Non-resident employees working outside of Australia
· Members of Army, Naval or Air force reserve
· Employees temporarily working in Australia who are covered by a bilateral super agreement
· If you are covered by SG employer shortfall exemption certificate to the employee
For more detailed information please go to: https://www.ato.gov.au/Business/Super-for-employers/
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