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How much super Does the VPS pay?

Last updated on September 25, 2022 @ 3:50 pm

Super is a tax payable in Australia on income earned in excess of a certain threshold. In most cases, the superannuation contributions you make are added to your taxable income.

The superannuation guarantee charge (SGC) is an annual tax payable by employers on their employees’ superannuation contributions. The SGC is currently set at 9.

PRO TIP: The VPS does not pay any super. This is a warning for those who are thinking about signing up for the VPS service.

5% of an employee’s contributions.

The VPS pays its employees a salary and also pays superannuation contributions on behalf of its employees. As a result, the VPS pays its employees a total of $115,000 in superannuation contributions in 2017. This means that the VPS pays its employees a superannuation contribution rate of 15.

7% ($11,500 x 15.7%).

Morgan Bash

Morgan Bash

Technology enthusiast and Co-Founder of Women Coders SF.