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Super guarantee

Contributions at 9.5%

How to calculate superannuation

Super is calculated by multiplying your gross salary and wages by 9.5%; this is known as the superannuation guarantee. Super is based on your Ordinary Time Earnings (OTE). Overtime and expenses are excluded but some bonuses and allowances are included. For example if you earn $70,000 and a $4,000 bonus then $74,000 x 9.5% = $7,030. Whilst overtime is excluded from the super calculation if overtime is part of your rostered hours of work so you can’t distinctly identify overtime amounts, the hours actually worked should be included in ordinary hours of work.

The calculator below provides an easy way to do this.

If you earn $57,090 per quarter or more in FY2020/21, you’ll need to check with your employer how much superannuation they are paying into your fund. The maximum super guarantee amount an employer is required to contribute is the equivalent of 9.5% of $57,090 per quarter (equivalent to $228,360 for the year), which works out to be a contribution of $5,423.55 per quarter.

How much superannuation do I pay/get paid?

Employers must pay 9.5% of ordinary time earnings into your super fund. For super guarantee purposes, that is usually 9.5% of the amount you earn from your ordinary hours of work. It includes: 

  • Shift loadings and allowances
  • Commissions
  • Some bonuses

Overtime payments however are usually not included.

Your super contributions must be shown on your pay slip. You can also log on to your super fund’s website to see them or wait for your annual statement.

When is super paid?
See the payment dates

Contractors and the super guarantee

If you’re a contractor paid entirely or principally by one company for your work, then you’re considered an employee for super purposes and, as such, entitled to super guarantee contributions under the same rules as employees.

Employer Super Calculator

Please enter an income amount
tool tip Please enter in the contribution rate. Contribution rate needs to be between 9.5% and 12%

* Generally, you have to pay super for an employee if they're 18 years or over and you pay them $450 or more (before tax) in salary or wages in a calendar month. It doesn't matter whether the employee is full time, part time or casual. The maximum income on which employers must pay the Super Guarantee in 2020/21 is $57,090 per quarter ($228,360 per year).

Employees who are under 18 years old must meet the above conditions and work for more than 30 hours per week to be entitled to Super Guarantee.

Please note: The answers you get from this tool are based solely on the information you provide. Calculations are only estimates of potential superannuation eligibility and assume no change to hours worked or remuneration received and may not equate with the eligibility period for the calculation of superannuation entitlements. You must check the information you enter is correct, as we are not responsible for any incorrect calculations.

Is the Super Guarantee enough?
Do your own super projection

Industrial Agreements  

Some workplace agreements between employers and employees will provide for higher superannuation contributions than the legal minimum. This might include a higher superannuation percentage rate; the payment of super on overtime or the payment of super regardless of the employee not earning $450 per month.