Owning a business and having employees means that you will have to deal with superannuation in Perth. Every employee is covered by this superannuation guarantee, even if they’re casual or part-time workers. Therefore, as the employer, you need to make sure you’re meeting your obligations during the employment process. Company owners and employers need to pay super contributions for any eligible employees, and there are specific cut-off dates for each quarter. You’re also required to pay the minimum amount in that earnings base, which is usually 9.50 percent. Along with such, you need to check eligibility of all your employees to determine which fund they are most suited for.
With all that you have to do for superannuation in Perth, it can get quite challenging. You have to know the rules, but you also have to keep appropriate records. It’s also important to pay contributions on time so that your super expenses are deductible come tax time. Did you know that if you pay the super late for your staff, you lose out on tax deductions and might also have extra administration costs/fees? Most employers don’t know this until it is too late. If you don’t have an in-house accountant on hand, it might be helpful to use third-party services and software.
Deng Accounting offers a variety of services to its clients. Superannuation in Perth can be tricky to learn and understand, but this company provides you with the help you need. You can have access to electronic superannuation payments with its Gold package. You can also talk to a professional about your needs and get help setting up these payments. You might also consider Xero, the company’s leading accounting software. It can help you keep payroll manageable, but it also helps you pay your employees correctly. Plus, it can help streamline superannuation each quarter because it keeps all the information accurate and in one place. You can report and pay super contributions with one click!
