Lesson
Becoming an Employer (super)
& Staff managementThe questions you need answered regarding your employees superannuation.
EMPLOYER SUPERANNUATION CHECKLIST
Follow these points to understand your employer super obligations.
Firstly, are you required to pay superannuation?
Check on the ATO website.
https://www.ato.gov.au/business/super-for-employers/work-out-if- you-have-to-pay-super/
Setting up super for your business.
Choose your business default super fund. Offer employees a choice of which super fund they would like to use.
How much super do you need to pay.
Go to the ATO website to see how much super you are required to pay.
https://www.ato.gov.au/Business/Super-for-employers/Paying-super- contributions/How-much-super-to-pay/
Paying super to your employee.
Pay electronically into your employee's super account.
Reporting electronically.
Report super payments through either SuperStream or Single Touch Payroll.
Paying on time.
Make sure you are aware of the super payment deadlines and pay timely.
Record keeping.
You are required to keep your superannuation records for 5 years. Make sure you check all your requirements with the ATO website.
Follow these points to understand your employer super obligations.
Firstly, are you required to pay superannuation?
Check on the ATO website.
https://www.ato.gov.au/business/super-for-employers/work-out-if- you-have-to-pay-super/
Setting up super for your business.
Choose your business default super fund. Offer employees a choice of which super fund they would like to use.
How much super do you need to pay.
Go to the ATO website to see how much super you are required to pay.
https://www.ato.gov.au/Business/Super-for-employers/Paying-super- contributions/How-much-super-to-pay/
Paying super to your employee.
Pay electronically into your employee's super account.
Reporting electronically.
Report super payments through either SuperStream or Single Touch Payroll.
Paying on time.
Make sure you are aware of the super payment deadlines and pay timely.
Record keeping.
You are required to keep your superannuation records for 5 years. Make sure you check all your requirements with the ATO website.
The questions you need answered regarding your employees superannuation.
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