The Superannuation Guarantee requires employers to pay super on behalf of their eligible employees at a minimum rate of 9.5% of the employees earnings base (most often their ordinary times earnings). Superannuation contributions are required to be paid quarterly and can also apply to certain contractors if their contract is wholly or principally for their labour. An employer is generally required to pay superannuation contributions for an employee who is:
- aged between 18 and 69
- paid $450 or more (before tax) in a calendar month
To ensure contributions are calculated correctly you can refer to the SG calculator on the ATO website.