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Select from corporate fund, industry fund, retail fund or self managed super fund (SMSF)
If you have employees, you are required to pay superannuation contributions regularly. Currently the contribution amount is 9.5% of the employee's salary, though this will gradually rise to 12% over the coming years. The only employees who are not entitled to superannuation are those earning less than $450/month before tax, and employees under 18 who work 30 hours a week or less. You are responsible for selecting a super fund, making regular contributions and keeping records for 7 years.
Selecting a super fund
The first step in selecting a super fund for your employees is to check if there is a default fund for your industry listed under the industrial awards. Fairwork provides a comprehensive list and a search feature to help you determine which industrial awards apply to you, which can be accessed here: http://www.fairwork.gov.au/awards-and-agreements/awards/list-of-awards
If there is no default fund, then you will have to select one yourself. There are a number of considerations you should keep in mind:
Which services will help you with superannuation?
Your bookkeeper will play an important role in calculating and keeping records of your superannuation contributions for each employee, but ultimately the responsibility falls on you to ensure that payments are made regularly and on time. If your business is large enough, you may have HR staff playing an active role in dispensing compulsory contributions and administrating voluntary employee contributions.