Do I have to pay Super?

Generally you must pay Superannuation Guarantee (SG) contribution 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:

Year

Rate

2013-14

9.25%

2014-15

9.50%

2015-16

9.50%

2016-17

9.50%

2017-18 (current rate)

9.50%

2018-19

9.50%

2019-20

9.50%

2020-21

9.50%

2021-22

10%

2022-23 

10.5%

2023-24 

11%

2024-25 

11.5%

2025-26

12%

 

 

 

 

 

 

 

 

 

 

 

 

 

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: 

Quarter

Period

Payment cut-off date

1

1 July - 30 September

28 October

2

1 October - 31 December

28 January

3

1 January - 31 March

28 April

4

1 April - 30 June

28 July

 

 

 

 

 

 

 

Making contributions to LESF Super?

Paying contributions to LESF Super is simple. You can send us a cheque, via direct deposit or BPay, or use our clearing house. For more information please contact our Member Services Team on 1800 359 686.

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. ATO may impose penalties if you don’t.  You can include TFN in your first contribution to LESF Super.

Keep good records

You are responsible to keep records of your super guarantee payment for five years. That includes:

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