Employers are required to pay SG contributions based on ‘Ordinary Time Earnings.’
Ordinary Time Earnings are an employee’s earnings in relation to ordinary hours of work, including:
- over-award payments
- bonuses
- commissions
- shift allowances
- paid leave
For a more detailed explanation of ordinary time earnings and a checklist for salary and wages and ordinary time earnings, refer to the ATO site.
If you require assistance with any aspect of your super administration please call REI Super on 1300 13 44 33.
This information has been prepared and published by REI Superannuation Fund Pty Ltd ABN 68 056 044 770 RSE L0000314 AFSL. 240569. REI Super ABN 76 641 658 449 and RSE R1000412 MySuper unique identifier 76641658449129 for the general information of members of REI Super.
It does not take into account any member’s individual financial objectives, financial situation or needs. We recommend that you seek help from a licensed financial adviser before acting on any information contained in this newsletter.
Although REI Super makes every reasonable effort to maintain current and accurate information, you should be aware that there is still the possibility of inadvertent errors and technical inaccuracies.
The REI Super Helpline and the REI Super website are provided by Mercer Outsourcing (Australia) Pty Ltd ABN 83 068 908 912 and Mercer Financial Advice (Australia) Pty Ltd (MFA) ABN 76 153 168 293, Australian Financial Services Licence (AFSL) #411766