Paying superannuation contributions checklist
We’ve put together a checklist to help you review your requirements for paying super.
1. Check that you are paying superannuation contributions to all entitled workers
It is important to know that some contractors may be entitled to superannuation contributions as well.
2. Check you are paying the right amount
As a general rule, you must pay a minimum of 11.5% (increasing to 12% on 1 July 2025) of each eligible employee's Ordinary Time Earnings (OTE) each quarter in superannuation contributions as per the SG legislation.
3. Recognise the definition of Ordinary Time Earnings (OTE)
OTE is usually the amount an employee earns for their ordinary hours of work. This includes things like commissions, shift loadings and certain allowances. Find out more on OTE
4. Pay on time
Employee’s SG payments are required to be paid quarterly by the 28th of October, January, April and July of each year. For employees under an Enterprise Bargaining Agreement (EBA) you may be required to pay monthly by the 14th of each month. As an industry fund BUSSQ defaults employers to monthly payments and considers member contributions as unpaid if not received by the 14th of the month. If you wish to change your payment frequency to quarterly, you can do this online.
5. Check you're paying to the right place
Pay superannuation contributions into your employee’s nominated super fund. If they haven't given you the details for their chosen fund, you will need to log into the ATO’s online service, enter the employee’s details to find their stapled super account and pay the employee’s super into that account. For employees who don’t choose a fund or don’t have an existing stapled super fund (e.g. an employee starting their first job) contribute super for the employee into your company’s default superannuation fund.
6. Ensure you keep accurate records
In case of an audit keep evidence to show that you have met your superannuation obligations, such as the date you gave your employees the relevant choice of fund form and details of how you determined whether someone was an employee for superannuation purposes or not.
If you need help paying your super, your BUSSQ Relationship Manager can help. Call us on 1800 692 877 for more information.
