ATO Tax Talk November 2017: Superannuation Guarantee

The following community information is brought to you by the Australian Taxation Office. Interview with Jagjit Singh.

ATO provides tax and superannuation information in Punjabi every month on SBS Radio Source: ATO

Superannuation, or super, is savings for when you retire. It begins for most people when you start working.

Your employer will contribute a percentage of your salary or wage into a super fund for your retirement, or temporary residents can claim it when they have left Australia and their visa is no longer in effect. Super is additional to your income.

It doesn’t matter if you work full time, part time, casually or if you’re a temporary resident of Australia, every working employee is guaranteed to have money paid into their super account.

You are generally eligible to be paid super by your employer if you’re over 18 years of age and get paid at least $450 before tax a month.

If you’re under 18 you must also work more than 30 hours per week to be eligible. Currently the super contributions should be at least 9.5% of your eligible earnings.

Most people can choose which super fund they want their super to be contributed to. If you don’t choose a super account when you start working for an employer, they should choose a fund for you.

You only need one super account; if you change jobs you can take your account with you. This saves you paying multiple fees and charges.

Jagjit Singh, Community Relations Officer, ATO Source: Supplied

It’s important to keep track of your super. First check that you’re eligible and how much your employer should be contributing for you. We have calculators and tools on ato.gov.au that can help you do this.

Once you know your entitlements, check with your employer to find out what they are contributing for you and confirm what contributions have been received by your super fund. If your super isn’t being paid correctly, we are here to help you. You can lodge an enquiry with us and we will investigate. 

General super information is available in various languages at ato.gov.au/otherlanguages, or you can speak with us in your native language by phoning the Translating and Interpreting Service on 13 14 50 and ask to be connected to 13 10 20. 

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