Friday, November 30, 2012

Helpful Super Tip!

It is important to notify Paypac if a casual has finished employment. By terminating the employee in Paypac,  you will reduce administration by not needing to submit $0 super returns for them.

Tuesday, November 27, 2012

When is your Super Payment Due?

All super must now be paid by the 28th of the month after the end of the quarter: 28th October, 28th January, 28th April, 28th July

If it is not paid by this date, a fine may be applied. To avoid any delays, funds should be at Paypac by no later than 20th of the month, earlier if possible.

Friday, November 23, 2012

What are the changes to the super guarantee rate?

The compulsory super guarantee rate will gradually increase from 9% to 12%. If you make super payments on behalf of your employees based on the minimum 9% super guarantee rate, you will need to increase this rate to 9.25% on 1 July 2013.

Tuesday, November 20, 2012

Helpful Super Tip!

To save administration time at a later date, Employers should ask for Employees ' full  superannuation information at commencement: This includes their Full Name, Address, Date of Birth, TFN, Super Fund and Super fund membership number.

Thursday, November 15, 2012

What are the changes to employee eligibility for super?

As of 1 July 2013, there is no upper age limit for paying super for an employee. Removal of the limit is to encourage mature workers to remain in the workforce. This means you may need to make super guarantee payments for eligible employees aged 70 years or older.