Superannuation Processing
Navigate the complexities of superannuation with our expert processing service. We handle contributions, SuperStream compliance, and reporting requirements to ensure you meet all regulatory obligations.
About This Service
Navigate the complexities of superannuation with confidence. Our superannuation processing service ensures your contributions are calculated correctly, paid on time, and fully compliant with SuperStream requirements. We manage contributions to all funds, handle choice of fund obligations, and provide comprehensive reporting.
Key Features
Comprehensive features designed to meet all your superannuation processing needs.
SuperStream Compliance
Fully compliant electronic submission of contributions and data to all superannuation funds via SuperStream.
Multi-Fund Management
Manage contributions to unlimited superannuation funds, including industry, retail, and self-managed super funds (SMSFs).
Accurate Contribution Calculations
Precise calculations based on Ordinary Time Earnings (OTE) and current Superannuation Guarantee rates.
Quarterly Reporting
Comprehensive quarterly reporting to track contributions, compliance, and deadlines.
Choice of Fund Administration
Manage employee choice of fund requests and ensure timely processing of fund changes.
Salary Sacrifice Processing
Handle pre-tax salary sacrifice contributions in addition to employer contributions.
Contribution Reconciliation
Detailed reconciliation of all contributions paid versus amounts due, identifying any discrepancies.
Fund Communication
Liaise with superannuation funds to resolve any contribution or member issues.
Benefits
- Full compliance with Superannuation Guarantee requirements
- Avoid late payment penalties and charges
- Accurate OTE and contribution calculations
- Seamless SuperStream submissions
- Simplified multi-fund management
- Clear visibility of contribution status
- Expert guidance on super obligations
- Reduced administrative burden
What's Included
- Superannuation Guarantee calculations
- SuperStream compliant submissions
- Multi-fund contribution processing
- Salary sacrifice administration
- Choice of fund management
- Quarterly contribution reports
- Fund liaison and issue resolution
- Compliance monitoring and alerts
Ideal For
This service is perfect for:
Our Process
A streamlined approach to ensure efficient and accurate service delivery.
Calculation
Superannuation contributions are calculated based on Ordinary Time Earnings and the current SG rate for each employee.
Validation
Fund details, member numbers, and contribution amounts are validated against employee records and fund requirements.
SuperStream Submission
Contributions are submitted electronically via SuperStream compliant channels to all employee funds.
Confirmation & Reporting
We track submission confirmations and provide detailed reports showing all contributions processed.
“Superannuation used to be a headache for us. PayCraft handles everything - calculations, submissions, and reporting. We never miss a deadline now.”
Jennifer Walsh
Business Owner
Frequently Asked Questions
Find answers to common questions about our superannuation processing service.
What is SuperStream and why is it important?
SuperStream is the mandatory electronic standard for making superannuation contributions in Australia. It ensures data and payments are linked and sent electronically to funds. All employers must use a SuperStream compliant method to pay super contributions.
How often should superannuation be paid?
The Superannuation Guarantee requires contributions to be paid at least quarterly by the 28th of the month following the end of each quarter. However, many businesses choose to pay more frequently, such as each pay run, which we can accommodate.
Can you handle employees with self-managed super funds (SMSFs)?
Yes, we can process contributions to SMSFs provided the fund has an Electronic Service Address (ESA) for SuperStream. We ensure all SMSF contributions are submitted correctly.
What happens if an employee changes their super fund?
We process choice of fund changes as soon as we receive the new fund details. Contributions are directed to the new fund from the next contribution period.
How do you calculate Ordinary Time Earnings?
We calculate OTE based on ATO guidelines, including regular salary and wages, shift loadings, and allowances that are part of ordinary hours. We exclude overtime, reimbursements, and other excluded amounts.
What if a contribution is rejected by a fund?
We monitor all submissions for rejections. If a contribution is rejected, we investigate the cause, correct any issues, and resubmit promptly. We keep you informed throughout the process.
Related Services
Explore our other payroll services that complement superannuation processing.
Ready to Get Started?
Contact us today to discuss how our superannuation processing service can benefit your business. Our team is ready to help.