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Superannuation

Superannuation is a mandatory payment for all employers to help their staff save for their retirement.

Before 1 July 2022, you did not have to pay super guarantee for a worker earning less than $450 a month. You now have to pay regardless of their earnings. After 1 July 2022, you will be required to pay the Superannuation Guarantee (SG) of 10.5%.

The ATO have a comprehensive guide to paying super for employers on their website so you understand your liability.

Australian Government's Small Business Superannuation Clearing House lets you pay your superannuation contributions in one transaction to a single location. This free service reduces the time and paperwork involved in making multiple payments to different superannuation funds.