Super Guarantee
As an employer your not-for-profit organization must provide its eligible employees with a:
- minimum level of super contributions by the quarterly cut-off date
- choice of super fund.
If you fail to meet these obligations, your organization has to report this to ATO by lodging a Superannuation guarantee charge statement – quarterly (NAT 9599) and pay the super guarantee charge (SGC).
Organizations that are income tax exempt are not exempt from the superannuation guarantee legislation.
The minimum amount of super contributions you must provide for your employees is 9.5% of each employee’s ordinary time earnings.
Any existing super obligations under an industrial award count towards the minimum level of support, as do payments made under a salary sacrifice arrangement. However, employee contributions do not count towards the employer’s obligations.
Employer contributions must be paid at least quarterly to a complying super fund or retirement savings account. The table below shows the quarterly cut-off dates.
For more information on Etax, myTax ATO and online tax return, please contact us at 1300768284 or you can email us at enquiry@taxrefundonspot.com.au
