Superannuation rules and regulations change frequently – every Federal Budget it seems, includes yet another raft of changes that employers need to be on top of. Fortunately for our employer clients we’re here to help, with employer briefings, updates and one-on-one assistance from our smartPartners.
Generally, employers must make a super guarantee (SG) payment for every employee that is paid $450 or more (before tax) in a calendar month. However there are some exceptions, for example, if your employee is under 18 or is a private or domestic worker (such as a nanny), SG payments are to be made only for those weeks they work for more than 30 hours. Also, you may have to pay SG for some contractors, even if they quote an Australian Business Number (ABN).
For help in determining if your employees are eligible for SG, talk to your smartPartner or check out the ATO’s Superannuation Guarantee Decision Tool.
If you have multiple employees with different super funds, our SuperStream clearing house will make short work of your quarterly SG obligations. Once we’ve set you up, it can literally be done with a single transaction. And, provided we’re your default fund and at least 30% of your employees are with smartMonday, it’s completely free of charge.
To learn more about your super obligations, contact a smartPartner at corporateenquiries@smartMonday.com.au
