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12 Mar 08 Calculation of SGC is changing from 1 July 2008

The ATO has reminded employers that from 1 July 2008 ordinary time earnings (OTE), as defined in the super guarantee law, must be used to calculate super contributions for their employees.

Most employees have OTE as their earnings base, however some have other earnings bases that may be contained in:

- an industrial award
- an existing agreement they have with their employer
- a fund’s trust deed, or
- a Commonwealth, State or Territory law.

OTE as defined in the super guarantee law is generally what an employee earns for ordinary hours of work including over-award payments, shift loading or commissions. It excludes such things as overtime.

For more information, go here

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