Payroll, super and FBT

Superannuation guarantee (SG)

The superannuation guarantee is the requirement for employers to pay a percentage of an eligible employee's earnings into a super fund. The percentage and the earnings base are set by law and have changed over time, so a practice should always use the current figure the ATO publishes. Contributions generally go to the fund the employee chooses, or to a default fund if they do not. If an employer does not pay on time and in full, it may have to lodge a superannuation guarantee charge statement and pay the charge, which is not tax deductible. Some workers who are called contractors are treated as employees for super purposes, so the worker type needs checking.

General information, not tax advice. The rules change, so check the source page above for the current position. Fedix is developed by Tax7 R&D Pty Ltd.