How to Calculate Super - Super Guarantee Calculator

How to calculate superannuation

Super is calculated by multiplying your gross salary and wages by 11.5%; this is known as the superannuation guarantee. Super is based on your Ordinary Time Earnings (OTE). Overtime and expenses are excluded but some bonuses and allowances are included. For example if you earn $70,000 and a $4,000 bonus then $74,000 x 11.5% = $8,510. Whilst overtime is excluded from the super calculation if overtime is part of your rostered hours of work so you can’t distinctly identify overtime amounts, the hours actually worked should be included in ordinary hours of work.

The calculator below provides an easy way to do this.

If you earn $65,070 per quarter (equivalent to $260,280 for the year) or more in FY2024/25, you’ll need to check with your employer how much superannuation they are paying into your fund. The maximum super guarantee amount an employer is required to contribute is the equivalent of 11.5% of $65,070 per quarter, which works out to be a contribution of $7,483.05 per quarter.

Employer super calculator

Income (before tax) Please enter an income amount Employer super contribution

Please enter in the contribution rate. Contribution rate needs to be between 11.5% and 17% Is the employee 18 years old or over?

Employer super calculator

Assumptions

We assume that the employee is an Australian resident and has provided a tax file number to their employer.

Employees can be full time, part time or casual.

The Super Guarantee is currently set at 11.5% of ordinary time earnings. This rate is set to rise incrementally to 12% by 2025. The SG percentage can be manually increased in the calculator.

Employees under 18 must work more than 30 hours per week to be eligible for SG payments.

The maximum income on which employers must pay the Super Guarantee in 2024/25 is $65,070 per quarter ($260,280 per year). If an employee earns over this amount, the employer is not obligated to make SG contributions for anything above the limit.

Disclaimer

This calculator is not intended to be relied upon for the purposes of making a financial decision. You should consider your objectives, financial situation and needs, which are not accounted for in this information, before making any investment or financial decisions.

You are responsible for your own investment decisions and should obtain specific, individual advice from a financial services licensee before making any financial decisions.

How much superannuation do I pay/get paid?

Employers must pay 11.5% of ordinary time earnings into your super fund. For super guarantee purposes, that is usually 11.5% of the amount you earn from your ordinary hours of work. It includes:

Shift loadings and allowances
Commissions
Some bonuses

Overtime payments however are usually not included.

Your super contributions must be shown on your pay slip. You can also log on to your super fund’s website to see them or wait for your annual statement.

When is super paid?
See the payment dates

Contractors and the super guarantee

If you’re a contractor paid entirely or principally by one company for your work, then you’re considered an employee for super purposes and, as such, entitled to super guarantee contributions under the same rules as employees.

Is the Super Guarantee enough?
Do your own super projection

Industrial Agreements

Some workplace agreements between employers and employees will provide for higher superannuation contributions than the legal minimum. This might include a higher superannuation percentage rate; the payment of super on overtime or the payment of super for under 18 year olds working 30 hours or less.