Superannuation Processing

Superannuation in Australia has recently undergone some changes and sometimes these changes can be difficult to understand and implement.

 

On 1st July 2013, the Superannuation rate increased to 9.25%.  This rate is increasing a further .25% (to 9.5%) on 1st July 2014 and will continue to increase until it reaches 12% in July 2019. Have you implemented this increase?

About Bookkeeping are up to date with all legislative changes to Superannuation and can make sure that your Payroll system is set up properly and ensure that your Superannuation is calculating at the correct rates and being applied to the correct payroll categories.

We can also make sure your business is reporting your Superannuation within the legislative time frames and provide you with detailed complex reporting that will inform you what needs to be paid and when.

If you are not paying the correct amount of super, by the due date, you will have to lodge and pay a Superannuation Guarantee charge to the ATO (Australian Taxation Office).  The charge includes any super shortfall, plus and administrative fee and interest.  Can your business afford to be paying ATO penalties?

Did you know that (unless stated otherwise in your industry award), Australian employers must provide their employees with a choice of Super fund?

Did you also know that you must keep records on file to show that you have offered your employees this choice?

If you have multiple employees with, all with a different Super Fund choice; it can take you several hours to process and pay your company Super.  We can set up all your Superannuation Processing, reporting and payments, through a Superannuation Clearing House.  You will then be provided with one amount that you need to pay, and ALL your superannuation obligations are taken care of.

The qualified team at About Bookkeeping know all the requirements you need to meet to ensure you are compliant and we can help your business with all your employee superannuation processing.

 

About Bookkeeping can provide you the perfect range of services for your business. We provide qualified bookkeepers for your small to medium businesses. All our clients have been helped by our bookkeeping experience and expertise. Our Brisbane Southside bookkeepers are passionate to solve your bookkeeping problems and to help grow your business. …call us today on 13-000-ABOUT or make an online enquiry .