Business super for employers
Here to help you set up and manage employee super
Frequently asked questions about paying super for employees
If you are a sole trader or work in a partnership, you generally don’t have to make super payments to yourself. However, you may wish to make personal contributions to a superannuation fund to save for your retirement, in which case you may be able to claim a tax deduction against your contributions. Find out more on the ATO Super for the self-employed page.
Whether an employee is full time, part time or casual, if you pay them $450 or more (before tax) in a calendar month, you have to pay super (currently at least 9.5% of ordinary time earnings) on top of their wages. However, there are some exceptions. Find out more on the ATO Working out if you have to pay super page.
The basics are:
- If you are a sole trader or part of a partnership, you do not have to pay yourself super – though you may wish to make tax-deductible personal contributions to a superannuation fund to save for your retirement.
- If you pay a full-time, part-time or casual employee $450 or more (before tax) in a calendar month, you have to pay super (currently at least 9.5% of ordinary time earnings) on top of their wages.
Find out more on the ATO Super for employers page.
It’s important you get this right, and a good place to start could be to complete your Business Super Profile. It can help you understand your business super for employees obligations, by using the online tool to answers a few simple questions about your business.
Things you should know
This information was prepared by BT Funds Management Limited ABN 63 002 916 458, AFSL No. 233724, RSE No. L0001090 (BTFM) and is current as at October 2019. The information provided is general in nature and does not take into account your personal objectives, financial situation or needs and so you should consider its appropriateness and read the disclosure documents before making any decision. This document provides an overview or summary only and it should not be considered a comprehensive statement on any matter or relied upon as such
BTFM is the trustee and issuer interests in of BT Super, which forms part of Retirement Wrap ABN 39 827 542 991, of which BTFM is trustee. A Product Disclosure Statement (PDS) is available for BT Super and can be obtained on this page or by calling BT Customer Relations on 1300 553 010. You should obtain and consider the PDS before deciding whether to acquire, continue to hold or dispose of BT Super. Insurance offered through BT Super is issued by Westpac Life Insurance Services Limited (WLISL) ABN 31 003 149 157, AFSL 233728.
BTFM and WLISL are subsidiaries of Westpac Banking Corporation ABN 33 007 457 141 (Westpac or the Bank). An investment in BT Super is not an investment in, a deposit with or any other liability of Westpac or any other company in the Westpac Group. It is subject to investment risk, including possible delays in the payment of benefits and possible loss of amounts invested.
Westpac and its related entities do not stand behind or otherwise guarantee the capital value or investment performance of BT Super.
Please read the Financial Services Guides for BTFM and Westpac or obtain a copy by calling 1300 553 010, visiting bt.com.au or from any Westpac branch before proceeding. If you would prefer another way of receiving the Financial Services Guide (such as in hardcopy), please let us know.