June 30 Reminder: Check your Superannuation Contributions!

Rosie Ramirez

10 June 2019    |   

Superannuation underpayment is a significant problem in Australia. An estimated 2.85 million Australians are being short-changed. On average, they have 50% less in their super balances than those who are being paid correctly. Further, analysis of ATO data has shown that the average underpayment is $2,070 — that’s $80 per fortnightly pay. Young, blue-collar workers are especially vulnerable to underpayment. So how do you make sure that superannuation contributions are accurate for your employees? Trade in your pen and paper for a super calculator Superannuation is important because it applies to almost every type of worker in Australia. Thus, employers must pay super for any work casual, part-time, and full-time temporary resident employee who falls under the following: Employees over 18 years of age, who earn $450 or more every month (before taxes); and Employees under 18 years of age, who earn $450 or more every month (before taxes), and work at least 30 hours a week. Employers must pay a minimum of 9.5% of the employee’s ordinary time earnings into super. But this is set to gradually rise over the coming years. However, you won’t need to worry about any of this when you use our free superannuation calculator. See correct superannuation contributions for multiple employees Figuring out the correct superannuation for your employees is effortless with our free super calculator. This free super calculator shows you the correct contributions for multiple employees at once. Follow the steps below to see the correct superannuation contributions. Don’t forget to check all the data before June 30! Step 1: Input. Input the first employee’s details in each field using our switch system. Step 2: Add. Click the “add employee button” to input another set of details. Repeat as necessary. Step 3: Calculate. Click the “calculate” button to see results. Avoid being charged fees and interest for unpaid superannuation contributions Employers who do not pay the correct superannuation may face fines, penalties, or charges. Additionally, you may lose your tax deduction for super contributions. If you are a small business that pays employees in cash, you may be more vulnerable to making mistakes in filing superannuation contributions. Don’t take the risk. Use a superannuation calculator that eliminates human error from your administrative work. Switch to complete workforce management system effortlessly Calculating correct super contributions is just one small part of our full range of services. Upgrade your free superannuation calculator to our full range of services and you will also be able to: Search and consolidate all employees’ superannuation contributions Accurately track time and attendance Manage leaves, shifts, and unavailability See real-time staff count and wage spending Connect to your existing payroll system Produce reports for strategic planning Ready to take advantage of technology to make sure your superannuation contributions are spot on?  Start your free trial now and get one step closer to workforce success! Disclaimers: You should only use the results generated from this website as a guide. They may not be completely accurate for your business. If you have other eligibility criteria not covered by this calculator, please refer to the ATO’s superannuation guarantee eligibility decision tool.

Superannuation underpayment is a significant problem in Australia. An estimated 2.85 million Australians are being short-changed. On average, they have 50% less in their super balances than those who are being paid correctly. Further, analysis of ATO data has shown that the average underpayment is $2,070 — that’s $80 per fortnightly pay. Young, blue-collar workers are especially vulnerable to underpayment. So how do you make sure that superannuation contributions are accurate for your employees?

Trade in your pen and paper for a super calculator

Superannuation is important because it applies to almost every type of worker in Australia. Thus, employers must pay super for any work casual, part-time, and full-time temporary resident employee who falls under the following:

  • Employees over 18 years of age, who earn $450 or more every month (before taxes); and
  • Employees under 18 years of age, who earn $450 or more every month (before taxes), and work at least 30 hours a week.

Employers must pay a minimum of 9.5% of the employee’s ordinary time earnings into super. But this is set to gradually rise over the coming years. However, you won’t need to worry about any of this when you use our free superannuation calculator.

See correct superannuation contributions for multiple employees

Figuring out the correct superannuation for your employees is effortless with our free super calculator. This free super calculator shows you the correct contributions for multiple employees at once. Follow the steps below to see the correct superannuation contributions. Don’t forget to check all the data before June 30!

  • Step 1: Input. Input the first employee’s details in each field using our switch system.
  • Step 2: Add. Click the “add employee button” to input another set of details. Repeat as necessary.
  • Step 3: Calculate. Click the “calculate” button to see results.

Avoid being charged fees and interest for unpaid superannuation contributions

Employers who do not pay the correct superannuation may face fines, penalties, or charges. Additionally, you may lose your tax deduction for super contributions. If you are a small business that pays employees in cash, you may be more vulnerable to making mistakes in filing superannuation contributions. Don’t take the risk. Use a superannuation calculator that eliminates human error from your administrative work.

Switch to complete workforce management system effortlessly

Calculating correct super contributions is just one small part of our full range of services. Upgrade your free superannuation calculator to our full range of services and you will also be able to:

  • Search and consolidate all employees’ superannuation contributions
  • Accurately track time and attendance
  • Manage leaves, shifts, and unavailability
  • See real-time staff count and wage spending
  • Connect to your existing payroll system
  • Produce reports for strategic planning

Ready to take advantage of technology to make sure your superannuation contributions are spot on?  Start your free trial now and get one step closer to workforce success!

Disclaimers:

  • You should only use the results generated from this website as a guide. They may not be completely accurate for your business.

If you have other eligibility criteria not covered by this calculator, please refer to the ATO’s superannuation guarantee eligibility decision tool.

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Industry Insights    |   

AU Exclusive: Free Superannuation Contributions Calculator now available

Figuring out the correct superannuation for your employees is effortless with Tanda’s free superannuation contributions calculator. This free super calculator shows you the correct contributions for multiple employees at once. Click here to try the super contributions calculator! Who qualifies for superannuation? In Australia, employers must pay super for any work casual, part-time, and full-time temporary resident employee who falls under the following: Employees over 18 years of age, who earn $450 or more every month (before taxes) Employees under 18 years of age, who earn $450 or more every month (before taxes), and work at least 30 hours a week From 1 July 2014, an employer is required to pay a minimum of 9.5% of the employee’s ordinary time earnings into super. This is set to gradually rise over the coming years. But you won’t need to worry about any of this when you use our free superannuation contributions calculator. Free Superannuation Contributions Calculator in three steps Step 1: Input. Input the first employee’s details in each field using our switch system. Step 2: Add. Click the “add employee button” to input another set of details. Repeat as necessary. Step 3: Calculate. Click the “calculate” button to see results. Click here to try the super contributions calculator! Upgrade to experience Tanda’s full range of services Calculating correct super contributions is just one small part of Tanda’s full range of services. With Tanda, you will also be able to: Search and consolidate all employees’ super Accurately track time and attendance Manage leaves, shifts, and unavailability See real-time staff count and wage spending Connect to your existing payroll system Produce reports for strategic planning Start your free trial now and get one step closer to workforce success! Disclaimers: The results generated from this website should only be used as a guide, and may not be completely accurate.  If you have other eligibility criteria not covered by this calculator, please refer to the ATO’s superannuation guarantee eligibility decision tool.

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About the author

Rosie Ramirez

Our team's goal is to provide practical advice for business owners and managers across industries.

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Industry Insights

AU Exclusive: Free Superannuation Contributions Calculator now available

Figuring out the correct superannuation for your employees is effortless with Tanda’s free superannuation contributions calculator. This free super calculator shows you the correct contributions for multiple employees at once. Click here to try the super contributions calculator! Who qualifies for superannuation? In Australia, employers must pay super for any work casual, part-time, and full-time temporary resident employee […]

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