Calculating how much to pay:
To work out how much super you have to pay for each of your employees, multiply their ordinary time earnings for the quarter by 9.50%. You then pay this amount to a complying super fund or retirement savings account by the quarterly payment cut-off date, which is 28 days after the end of each quarter.
- Ordinary time earnings
- Ordinary time earnings are generally what your employees earn for their ordinary hours of work, including:
- over-award payments
Speak to your accountant or adviser for more information.