Welcome to Nudge Accounting, We have over 80+ years of expertise in accounting and bookkeeping services.
Online Bookkeeping & Accounting Services Nudge Accounting

Suite 139/243 Pyrmont Street, Pyrmont NSW 2009

Mon - Fri 9.00 AM - 6.00 PM (AEST)

Saturday, Sunday Closed

Tax Tips Tuesday – Increase in superannuation rate

Tax tips, accounting, bookkeeping, small business, nudge accounting, startups, superannuation rate

On 1 July 2014, the superannuation rate for employees increased from 9.25% to 9.5%. Superannuation contributions form a key component of the pay that eligible employees receive as part of their normal salary and wages. You can read more about superannuation and eligibility of employees for superannuation here.

What impact does this superannuation rate increase have when running the payroll for your small business:

  1. If an employee receives a payroll package of say $50,000 including superannuation, more of this package will go to superannuation and employees will receive less cash in hand as part of their ongoing pay.
  2. If you are paying casual staff members, the superannuation rate increase will probably mean you are paying your staff members more each month as they are generally paid on an hourly basis plus superannuation.
  3. If you pay your employees fortnightly and the first pay day is 4 July 2014, you might be wondering if you need to use two different calculations for superannuation. According to the ATO, you only need to do one calculation and this would be using the new 9.5% superannuation rate.
  4. And don’t forget that superannuation is due by the latest 28 days after the end of each quarter.

Tax Tips Tuesdays is brought to you with love from Nudge Accounting.

What is the superannuation rate for my small business employees?

Superannuation rates

Managing superannuation contributions for your small business employees can often be a difficult and tedious task. So we have created an easy guide to help you understand what some of your obligations are as small business owners.

What is the superannuation rate for my small business employees?

You’re required to make super guarantee contributions to employees if they’re 18 years or over and paid $450 or more gross salary in a month. The table below shows the key superannuation rates in 2013 and beyond:

Period Superannuation rate

1 July 2013 – 30 June 2014 9.25%

1 July 2014 – 30 June 2015 9.5%

1 July 2015 – 30 June 2016 10%

1 July 2016 – 30 June 2017 10.5%

Continue reading “What is the superannuation rate for my small business employees?”

We Are E.S.T. 2012

Who WE Are

At Nudge, we do it all for your small business: bookkeeping, accounting and tax. we can also help you with tax advice, company setups, personal tax, monthly performance summaries and specialist advice for small business owners. All work is completed by Aussie Accountants so you’ll never have to worry about compliance again.

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TESTIMONIALS

OUR COMPANY

OUR COMPANY Quality

With the uprising of technology and the plethora of competition in the majority of industries, business owners tend to seek help and assistance in managing and tailoring their business to suit the era’s needs and expectations. The process of accounting provides reports that bring key financial indicators together. Understanding financial concepts and gearing clients to financial success is what we exceed at here at Nudge Accounting. Our expertise lingers throughout the field of online accounting and engulfs all financial cases. With years of extensive experience and a dedication for our clients success, we endeavour to evolve our existing methodologies, in order to transform into Australia’s leading online financial firm.

OUR COMPANY Commitment

A successful marriage between bookkeeping and accounting will contribute to the long-term financial success of any business. Nudge Accounting takes pride with their online bookkeeping and online accounting services that encompass all aspects and sectors of finance to ensure our clients receive the utmost finest service. Commitment is an attribute we stand for as client satisfaction is always key to evolution. Our reliability is second to none, as we ensure our clients are well organised and pursuit their financial tasks with accuracy and precision. Nudge Accounting propelled their excellence and with their dynamic team of online accounting professionals transcended competition and have cemented themselves as the leading online bookkeepers in Australia.

OUR COMPANY Success

Our software and technological client interface is meticulous and seldom do alternative online accounting companies acquire this quality of infrastructure. This is what portrays our excellence and gears Nudge Accounting towards success. We ensure client satisfaction, by going through all the details and explaining financial situations to our clients. Engaging the client is what makes us stand out! Online accounting software, combined with online accounting techniques is a much more effective procedure than filling out paperwork because half the work is already done for you! Nudge Accounting take pride in providing the utmost finest online accounting service across Australia, with a variety of small to medium businesses and accounting excellence, technology and Nudge go hand in hand, just like the glove fits the hand!

WE HELPING SMALL BUSINESSES

Nudge provide exceptional accounting service and support whilst remaining price competitive. All of our packages provide the same great features for your small business accounting needs, which includes:

  • Performance Management Reporting
  • Annual Tax Return Preparation and Lodgements
  • Annual Financial Statements
  • Financial Monthly Statements
  • QTR BAS Preparation and Lodgements
  • Monthly KPI's to Identify Improvement Areas
80
YEARS OF
EXPERIENCES
$250m
UNDER MANAGEMENT
REVENUE
$150m
TOTAL
ASSETS
100
% SECURE
CLOUD STORAGE

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