DID YOU KNOW THAT THERE IS AN EARNINGS BASE CAP WHERE EMPLOYERS DON’T HAVE TO PROVIDE SUPER GUARANTEE BEYOND THIS CAP?

For the 2016-17 financial year if an employee earns over $51,620 for a quarter, the employer doesn’t have to provide super on earnings beyond that amount.

So to put figures to this, 9.5% of $51,620 is $4,903.90 per quarter or $19,615.60 for the year being the amount that an employer must contribute to an employee’s super fund but is not compelled to contribute more than this.

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