If super is not paid by the due date, it is not tax deductible. By law, the ATO cannot extend the due date to pay super. If you miss a deadline to pay your quarterly SG contributions, you need to lodge a superannuation guarantee charge statement to the ATO.
If you have partially paid or cannot pay your SG in full, we can assist you to set up a payment plan that suits your circumstances with the ATO.
The superannuation guarantee charge is different to the regular contributions you pay and is made up of:
- SG shortfall amounts
- interest on those amounts (currently 10%)
- an administration fee of $20 per employee, per quarter.
Significant penalties can apply if you do not lodge a statement by the due date. So take action now and call us if you would like our assistance with this.
