ARTICLES & INFO
Superannuation

Super Guarantee Payments Due

21
Jan

Super Guarantee Payments Due

Monday, January 21, 2019

Get ready!

 Superannuation guarantee payments are due to your employees’ super funds by Monday 28 January.

 As the date falls on a public holiday this year, you have until the next business day to get it done.

 If you miss a payment, super guarantee charge (SGC) may apply, and you will need to lodge an SGC statement the following month.

SGC is non-deductible, made up of:

· super guarantee (SG) shortfall

· interest on the shortfall (currently10% pa)

· an administration fee of $20 per employee per quarter.

Even if you pay SG at a later date, SGC may still apply. However,you can use the late payment to either offset the SGC or carry it forward as a prepayment of a future contribution for the same employee.

If you think you may be at risk of getting behind with SG payments, contact us as soon as possible so we can work with you to get you back on track.

Next step:

· If you can't pay on time, either call the Australian Taxation Office or for more information contact us.

Posted on:

Monday, January 21, 2019

in

Superannuation

category

The Blog