The ATO has advised that super contributions for quarter four (1 April - 30 June) must be paid for all eligible employees by Wednesday 28 July 2010.Employers must keep adequate records showing the amount of super made for each employee.These records should include:
- how any reportable employer super contributions were calculated;
- how the employee-influenced portion of the total reportable employer super contributions was calculated;
- how employees' salaries or ordinary time earnings were calculated;
- copies of relevant salary sacrifice agreements entered into with employees; and
- copies of relevant industrial agreements for employees.
Superannuation records must be kept:
- for five years after they are prepared, obtained or the transactions completed, whichever occurs last; and
- in English, or in a form the ATO can easily access and convert into English.
For more information visit the ATO website.
