We all know that...
- employers are obligated to pay 9.5% SGC (Superannuation Guarantee Contributions) on all OTE (Ordinary Time Earnings);
- each employee has the right to choose where they want their SGC to go; and
- SuperStream regulations require electronic payment and reporting of super (click here for more information about SuperStream Compliance)
This being the case it's important that the correct super fund data is selected on the employee record, super funds page so when it comes time for you to pay your SGC, these funds will end up exactly where they're supposed to.
Searching for employee super details
Since SuperStream regulations came into play, all super fund products are identified by a USI (Unique Superannuation Identifier) - before SuperStream a SPIN was used - and this USI is the most accurate and efficient way to search for / identify the correct fund and product.
(A) Go to your employee's record:
Click the 'Employees' tab on the payroll dashboard, then just click on the employee's name...
(B) Click on the Super Funds page:
Adding or adjusting employee super details
For instructions on how to add, edit or delete any employee super fund details, refer here.
- If you are having trouble importing your super file into QuickSuper you may need to enter the External ID of the fund on the 'Self Managed' tab. Prior to doing this, you need to log into QuickSuper and add the SMSF and they will then generate a Super Fund ID for you to use.
- Avoid manually adding super funds against an employee file. Rather, the best way to ensure that all superannuation payments are forwarded to the intended and correct fund is to use our super fund search facility because only valid, ie. SuperStream compliant, data is available for selection. We have an extensive database managed by a clearing house that is automatically updated from the Australian Taxation Office. It provides all the Superannuation Fund ABNs in Australia, including SMSFs (self-managed superannuation funds).
- If you haven't been able to find the super fund you're looking for first double-check the information with your employee (to rule out obvious things like typos or transposed figures) then try searching for the fund here http://superfundlookup.gov.au/
If you have any questions or feedback, please let us know via firstname.lastname@example.org.