I would like to know if it is possible to pay 12 months of superannuation to an employee in advance. The proposed contributions would exceed the current Superannuation Guarantee (SG) requirement of 12% and would represent prepayment of future superannuation obligations rather than contributions relating solely to the current pay period. Is it possible to make one up front payment for the the financial year, and would those funds sit within the employees superannuation fund, or stay with the clearing house? I have not had any success with either my Payroll Software Provider nor the Clearing House as to whether this is possible. Any help would be greatly appreciated.
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66 views
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