Reminder: Superannuation Guarantee Contributions are due

If you’re an employer or responsible for managing employee superannuation contributions, there are a few key deadlines that you need to be across to ensure your business is compliant and to avoid penalties.

It is important that you ensure you pay staff SG contributions for the quarter ended 30th September 2018 BEFORE 28th October 2018 or you can be liable for penalties. When arranging payment for this quarter, please ensure that you allocate enough time for processing. Payment must be banked by your employee’s super fund BEFORE 28th October, so allowing 5 working days before the due date is a good general rule of thumb.

What happens if the payment deadline is not met?

If payment is not made by the deadline, or to the correct fund, you may have to lodge a Superannuation Guarantee Charge (SGC) statement and pay the SGC. In some cases, Directors of companies can become personally liable if SG contributions are not paid by the due date.

 

For more information on superannuation guarantee contributions please visit the ATO. If you would like to receive some advice, our dedicated superannuation team will be available to assist with your enquiry. Please call us on +61 2 9981 2300 or click here to send an enquiry via our website.

Allan Hall named finalist in numerous firm-wide categories

Allan Hall Business Advisors continues to impress with individual, network and firm-wide awards and accolades, with our latest nomination as winner of the Client Choice Awards 2020, Women in Finance Awards 2019 and HR Manager of the Year 2019. For further details and a full list of our recent awards, click below.

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Allan Hall Business Advisors is an integral member of Alliott Group, a growing alliance of 170+ accounting and law firms in  across 70+ countries globally. As part of this alliance, we can connect with like-minded members of Alliott Group in other jurisdictions to support and advise our clients who are wishing to explore and develop business opportunities both locally and internationally.