The Australian Superannuation Guarantee legislation mandates that employers pay at least the minimum superannuation to employees, currently 10.5% of their base earnings. Understanding the requirements and the implications of underpaying super to your employees is an important part of understanding your business’s financial and tax position, as well as the obligations of the business’s directors.

How we help

At Grant Thornton, our team can assist you by:

  • advising on minimum employer obligations
  • assessing pay codes in relation to their correct superannuation treatment
  • using an automated tool developed by us to:
    • review whether past superannuation obligations have been met
    • calculate over and underpayments and apply set-offs where available
    • prepare disclosures to the ATO in respect of any shortfalls.
Elizabeth Lucas
Partner
Elizabeth Lucas

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