follow url Keeping up with changes in superannuation, and knowing when exactly payments are due, can easily fall to the peripheral of priorities in busy workplaces. A myriad of other processes – from payroll service solutions to process management – dominate over seemingly minor processes like superannuation contributions, which only take place quarterly. But making super contributions for your employees is required by law in Australia, and not keeping up with payments could result in hefty fines (not to mention disgruntled employees). Read on to find out how you can stay on top of your payments.
watch The first step toward making contributions for your employees is to work out if you’re an employer for super guarantee purposes – that is, whether you need to make contributions for your employees at all. The Australian Taxation Office (ATO) offers a free checklist to help employers determine their status in this respect.
اسهم شركة ارامكو السعودية Once you’ve worked out if you’re an employer for superannuation guarantee purposes, the next step is to know how much super to pay. Currently, employers are legally obliged to pay a minimum of 9.5% of each employee’s ordinary time earnings each quarter in superannuation. That means 9.5% of the amount the employee has earned during normal working hours – including commissions, shift loadings and allowances, but excluding overtime payments.
go When do I need to pay it?
As a minimum superannuation contributions are due four times a year, during the periods listed below.
|http://www.dramauk.co.uk/?arapyza=%D8%A7%D9%84%D8%AE%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D8%AB%D9%86%D8%A7%D8%A6%D9%8A%D8%A9-ITM-%D8%A7%D9%84%D8%AA%D8%AF%D8%A7%D9%88%D9%84&ec9=4e Quarter||http://www.tyromar.at/?yuwlja=%D8%AA%D8%AD%D9%84%D9%8A%D9%84-%D8%B3%D9%88%D9%82-%D8%AF%D8%A8%D9%8A-%D9%84%D9%84%D8%A7%D8%B3%D9%87%D9%85&520=df Period||تعريف تتداول الخيارات الثنائية Payment cut-off date|
|1||1 July – 30 September||28 October|
|2||1 October – 31 December||28 January|
|3||1 January – 31 March||28 April|
|4||1 April – 30 June||28 July|
For more information about superannuation and the new SuperStream standards for 2015, head over to our blog by clicking here. For information about fully managed payroll services, get in touch with the team at i3Group today. We work with all kinds of Australian businesses to create payroll service solutions that improve operational process and take the stress of payroll away from business owners. Let us help your business thrive by contacting one of our payroll experts with your business details today.