Giving you a
little time for
yourself

Talking Cents

December
November
October
September
August
July
June
May
April
March
February
January

Superannuation information for first time workers, by our accountants for small business in Melbourne

If you think superannuation is something that you don’t have to worry about until you’re older, then think again! Superannuation is something that you should consider as soon as you start your first job as each dollar you make can contribute to your retirement fund in the future. Our accountants for small business in Melbourne want you to have a comfortable life in retirement, so here’s all the information you need to know now for that to happen.

To have access to superannuation you must fit into one of the following categories;
- Under 18: You must work at least 30 hours per week and earn at least $450 (before tax) in a calendar month.
- Aged 18 years or over: You must earn at least $450 (before tax) a month with no minimum hours required, unless your work relates to a private or domestic nature such as babysitting. If so, then you must also work at least 30 hours each week.

If you fit into one of these two categories, then our Melbourne small business accountants want you to be aware of the superfund rewards you should be receiving. Your employer must pay you 9.5% of your ordinary earnings into your super fund, at least quarterly. If you don’t have a superfund of your own don’t stress, your employer or our small business accountants in Melbourne CBD will help you find a superannuation provider!

For more information regarding superannuation, please contact our accountants for small business in Melbourne today.

 
Liability limited by a Scheme approved under Professional Standards Legislation