Superannuation Guarantee (SG) legislation requires employers to pay a minimum level of super for each of their employees. The minimum level, as a percentage of each employee's average weekly ordinary time earnings is 9%. However, if your employees’ are covered by an Award or industrial agreement that specifies a higher amount then you are obliged to pay the higher amount.
Exceptions under SG legislation are employees:
- Who earn less than $450 in any calendar month or
- Aged 70 years or over or
- Under 18 years of age who work less than 30 hours per week or
- Senior foreign executives or
- Non-resident employees paid for work done outside Australia.
There are penalties imposed under the SG legislation if you don't make SG contributions on behalf of your employees at least quarterly. The deadlines for making SG contributions are:
|
Superannuation Guarantee Quarter |
Due Date for Contributions |
|
1 July – 30 September |
28 October |
|
1 October – 31 December |
28 January |
|
1 January – 31 March |
28 April |
|
1 April – 30 June |
28 July |
Download a copy of the ATO’s publication Superannuation Guarantee a guide for employers to learn more.
