Boost Staff Loyalty While Reducing Your Tax Bill

Superannuation isn’t just a legal requirement—it’s also one of the most underutilised tax and employee retention tools available to small and medium businesses in Australia.

With the right strategy, your super contributions can do more than meet compliance. They can strengthen team satisfaction, reduce your taxable income, and support long-term business growth.

At Streamlined Accountants, we help businesses make smarter decisions around super—ensuring they meet deadlines, avoid penalties, and use contributions to their full advantage.

🔍 What Are Superannuation Contributions?

Superannuation (or ‘super’) is money paid into a fund to support your employees' retirement. As an employer, you're required to contribute a minimum percentage of each eligible employee’s earnings into their nominated super fund.

The current Super Guarantee (SG) rate is 11% of ordinary time earnings and is set to increase incrementally each year.

✅ Benefits to Your Business

1. Tax Deductions

Super contributions paid before June 30 are fully tax-deductible, as long as they’re received by the fund on time. This means:

• Lower taxable income

• Reduced company tax payable

• Improved year-end cash flow

Tip: Schedule payments by mid-June to ensure they’re cleared in time for EOFY deductions.

2. Avoid Costly Penalties

Missing SG deadlines can trigger:

• The Super Guarantee Charge (SGC)

• Interest and administration fees

• Loss of tax deduction for late payments

We’ll help you set up reminders or automate your payroll to stay ATO-compliant.

3. Boost Employee Retention

Offering additional super (above the minimum) or salary-sacrifice options shows you’re invested in your team’s future. It’s a great incentive for attracting and retaining top talent, especially in competitive industries.

🧠 Smart Super Strategies to Consider

• Salary Sacrifice Arrangements

Allowing employees to contribute pre-tax income into their super can help them reduce their personal tax bill—and it doesn’t cost your business anything extra.

• Additional Employer Contributions

Offering an extra 1–2% super contribution as a benefit can:

• Strengthen loyalty

• Reduce staff turnover

• Differentiate your business from competitors

• Super for Contractors

Some contractors may legally qualify as employees for super purposes. Get clear on your obligations early to avoid backpay issues or ATO penalties.

📆 Stay Ahead of Key Superannuation Dates

Being proactive is key to staying compliant and maximising deductions. Here are a few key reminders:

• Quarterly due dates: Super is due 28 days after the end of each quarter (e.g. 28 July, 28 October, etc.)

• EOFY deadline: Contributions must hit the fund by 30 June to be deductible in that financial year

• SG rate increases: Plan for the annual rate increase (to 11.5% on 1 July 2024 and 12% by 2025)

💡 Real Case Study: Super Strategy That Saved $14K in Tax

We worked with a retail business that had previously only made minimum SG contributions. After reviewing their structure, we recommended:

• Prepaying Q4 super in June

• Offering salary sacrifice options to employees

• Restructuring the business to improve tax efficiency

Result? They saved over $14,000 in tax while increasing staff satisfaction and reducing turnover.

Let’s Make Super Work Smarter for You

Whether you’re a new business or looking to improve your systems, superannuation doesn’t need to be a burden. With the right advise, it can be a powerful tool for tax planning, employee retention, and business growth.

At Streamlined Accountants, we’re here to help you stay compliant, get strategic, and take advantage of every tax-saving opportunity available.

📞 Call us today on 0451 040 656 or email info@streamlinedaccountants.com.au for a tailored superannuation strategy that aligns with your business goals.