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 June 2018 BEFORE 28th July 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 April, 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 impresses as finalist for SMSF and Accounting 2018

Allan Hall is excited to announce that it is officially in the running to take home four awards at the prestigious SMSF and Accounting 2018 Awards. This is a nationwide industry event which recognises performance in SMSF and accounting professions across Australia, honouring the individuals and businesses who are leading the way in SMSF advice and accounting by championing professionalism, quality advice and innovation.

Global alliance focussed on business excellence

Allan Hall is the Sydney member of Alliott Group, an award winning, growing, global alliance of 160+ accounting, law and consulting firms in 60+ countries.