Do I have to pay Super?

Generally you must pay Superannuation Guarantee (SG) contributions for an employee to a complying superannuation fund.

However, you don’t have to pay SG contributions for an employee if:

He /she is earning less than $450 in a month; or
He /she is under 18 and work less than 30 hours per week

How much Super I have to pay?

The SG rate has increased from 9.25% to 9.5% effective 1 July 2014, and was due to increase on 1 July 2015 to 10%. However, this has changed as a result of legislation passed by Federal Parliament on 2 September 2014. This will see the SG rate of 9.5% remain until 2021, then increase to 12% from 1 July 2025, by 0.5% increment every year.

The table below shows the super guarantee rate increases:

YearRate
2013-149.25%
2014-159.50%
2015-169.50%
2016-17 (current rate)9.50%
2017-189.50%
2018-199.50%
2019-209.50%
2020-219.50%
2021-2210%
2022-2310.5%
2023-2411%
2024-2511.5%
2025-2612%

When to pay?

You must pay SG contributions for each eligible employee at least four times a year, by the cut-off dates as below:

QuarterPeriodPayment cut-off date
11 July - 30 September28 October
21 October - 31 December28 January
31 January - 31 March28 April
41 April - 30 June28 July

Making contributions to Smartsave?

Paying contributions to Smartsave is simple. You can pay via direct deposit (EFT), or use Smartsave ‘Members Choice’ clearing house, or other Clearing House such as the ATO SBSCH.  As required by legislation, the Fund will be unable to accept cheques from 28 October 2016. For more information please contact our Member Services Team on 1300 654 720.

Providing TFN

When a new employee starts working, you should receive their TFN by completing a Tax file number declaration form. You then need to pass their TFN onto their super fund. The ATO may impose penalties if you don’t.  You can include the TFN in your first contribution to Smartsave ‘Members Choice’.

SuperStream

A great way to obtain new and existing employee details so you are SuperStream ready is to use the ATO Standard Choice form available on the Forms & Publications page click here.

Keep good records

You are responsible for keeping records of your super guarantee payments for five years. That includes:

  • Records showing the amount of super you paid for each employee
  • Documents that helped you calculate the amount of super
  • Records to show you have offered your employee a choice of super fund