Under the Superannuation Guarantee (Administration) Act 1992, employers must keep superannuation guarantee records for at least 5 years (SG) / 7 years (Fair Work). Clock starts: later of preparation or the transaction (SG).
Records of super contributions made for employees, and of how any superannuation guarantee shortfall was calculated.
3 provisions in 3 laws apply to these records. Each one is set out below with its own period and start date.
The terms
Conditions and exceptions Caution
Two laws, two periods. The SG Act requires 5 years from the later of when the records were prepared or the transaction was completed. The Fair Work Regulations make contribution details an employee record, which must be kept for 7 years.
From the provisions:
- Commissioner has notified the employer that retention is not required
- The employer is a company that has gone into liquidation and been finally dissolved
- Employer is required to make superannuation contributions for the benefit of an employee
- Does not include contributions in respect of a defined benefit interest in a defined benefit fund
- The record must be of a kind prescribed by the regulations
The law
Other terms that apply to these records
This page covers superannuation guarantee records on their own. The same file is often caught by other laws as well, with different periods and start dates. See why a legal term is not a schedule.
3 records. 3 sets of rules. They don't agree.
One business file can hold all of these at once.
Now do that for every record your organisation holds, and redo it when the law changes. ScheduleOne has done that work, and keeps it current.
See ScheduleOne →