1. You need to make super contributions for your employees
As an employer, you are required to make super contributions on behalf of all your eligible employees. This is known as the ‘superannuation guarantee’ (SG). You can use the Australian Tax Office's (ATO) SG calculator to work out the amount to pay for your employee’s super fund. Read More.
2. You must choose a ‘default’ super fund
Your default super fund is the fund that you pay super contributions to for new employees unless they choose a different fund.
3. Your default super fund must be MySuper authorised
MySuper is a superannuation initiative by the Australian Government that resulted in simple and cost-effective default superannuation products for Australian workers. This means your employees will not be paying for unnecessary features and fees.
Good news! Australian Ethical Super is a MySuper authorised fund.
For more information, visit the ATO website.
