The following community information is brought to you by the Australian Taxation Office. Interview with Yangsook Lee.
If you are an employer, do you need to pay your employees super?
Yes, you need to pay your employees super if they are over 18 years of age and are paid at least $450 before tax a month. If they are under 18 they must work more than 30 hours per week to be eligible.
Currently, the amount of super you must pay is 9.5% of eligible earnings.
Employers have to pay super each quarter. The current quarterly due date for payments are 28 April, 28 July, 28 October and 28 January. If you don’t pay on time you will have to pay the super guarantee charge, which is not tax deductible.
Most employees can choose which super fund they want their super to be contributed to. If they don’t choose a super account when they start you can choose a fund for them.
You can find more information via Podcast above.
