When do i start paying superannuation

Sometimes adjustments need to be made, and these should be paid by the superannuation cut-off date. Paying with QuickSuper. The deadlines for paying super remain the same each year, so the due dates for and super guarantee payments are:. The super due dates stay the same, even if you use STP. Payment through Single Touch Payroll.

SuperRatings' Pension of the Year three years in a row 4. The public focus on funding retirement means employees are rightly taking a greater interest in their superannuation accounts, too. Luckily for employers, there is plenty of information available to guide you on how to do the right thing.

It is essential employers pay super contributions on time to avoid penalties. The law requires employers to pay at least four times a year, at the end of each financial quarter. If the due date falls on a weekend or public holiday, the ATO allows payments to be made on the next business day. You also need to factor in processing times of your super fund to ensure contributions processed by the due date.

These stipulations apply only to the 9. An important detail to keep in mind is that an employee's super contribution is counted as being paid on the date their fund gets it, not the date the clearing house receives it from you. You must pay the charge by a new due date, which is a month after the original super contribution payment due date. Employers can apply for an extension of time to pay. Continued avoidance is a serious matter. QSuper has an excellent track record for achieving great superannuation outcomes, and not just for its members.

It works hard for employers who choose QSuper as their default super fund, too. We know you want to spend your time running your business, not worrying about compliance. With our Employer Direct portal and guidance from our dedicated employer support team, you will have peace of mind and so will your employees.

Find out more about your super responsibilities. It's easy to make QSuper your default fund. Contact us or request a call and we'll talk you through the process.

Information accessed January Please enable JavaScript in order to get the best experience when using this site. How much super do I need to pay? Which employees do I have to pay super for? When must I pay my super? What happens if you pay your super later than these dates? How do you know if you should be paying super for your contract workers? You should take the following factors into consideration: How does your sub-contractor trade? Who decides when and where they work?

Who supplies the materials for the job? This does not include hand tools. We assume that the employee is an Australian resident and has provided a tax file number to their employer. The SG percentage can be manually increased in the calculator.

If an employee earns over this amount, the employer is not obligated to make SG contributions for anything above the limit. This calculator is not intended to be relied upon for the purposes of making a financial decision.

You should consider your objectives, financial situation and needs, which are not accounted for in this information, before making any investment or financial decisions. You are responsible for your own investment decisions and should obtain specific, individual advice from a financial services licensee before making any financial decisions.

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