Managing your employees’ SG contributions? Technologies you need to know

Paying and reporting your employees’ Super Guarantee (SG) contributions every quarter can be a bit of a pain.

It’s a regular task shared by most employers across the country and adds up to a lot of money, with employer contributions totalling $108.6 billion in the year ending June 2022. Of this figure, SG contributions totalled $82.2 billion.

Although there’s a lot of paperwork when you first start making contributions, new software and payment options can make the task a little easier.

Meeting your SG obligations

As an employer, you are required to pay quarterly SG contributions to a super fund on behalf of your eligible employees.

You are also required to pay and report your super contributions electronically in a standard format, which is called SuperStream. All your super payments and data reporting must be SuperStream compliant.