Employee Superannuation Contributions

	From 1st July 2003 employers will be obliged to make SG Contributions on a quarterly basis.
	Must be paid for employees under 70 years of age who are gainfully employed working at least ten hours per week.
	Payable on ordinary times earnings; - Salary & Wages - Allowances - Bonuses - Commission - Directors Fees
	The rate is 9%
	If an employees income is less than $450 in a calendar month, no SG needs to be paid for that month.

Due Dates

Pay Quarter	Due Date
1st July to 30th September	28th October
1st October to 31st December	28th January
1st January to 31st March	28th April
1st April to 30th June	28th July

Note: To claim a tax deduction for the superannuation for your employees the contribution and paperwork must be received by the fund BEFORE 30th June.

The statutory deadline is 28th July.

Co- Contribution for Low Income Employees.
The government will contribute to your superannuation fund if you make a contribution personally based on Taxable Income.
Up to $28000 – Maximum $1500
$28000 to $58000 – Maximum $1500 – (5% x Total Income - $28000)