Super Guarantee Charge & Employers

The ATO are now using Single Touch Payroll (STP) reporting, together with information provided by Superannuation Funds to identify employers who are not up to date with their Superannuation Guarantee (SG) contributions.

In particular, the ATO is zeroing in on employers who

  • have paid some or all of their super contributions late Or
  • haven’t paid the right amount

If an employer is not meeting their SG obligations, the ATO may contact them to remind them that they need to lodge Superannuation Guarantee Charge (SGC) statements for the relevant periods. SGC statements are still required to be lodged even if SG contributions are late or underpaid.

What you need to do

If you have not paid the right amount of super guarantee by the due date, you are now required to review your records, lodge your Superannuation Guarantee Charge (SGC) statement/s and pay the SGC to the ATO.

Quarterly Employers SGC lodging & payment dates are as follows:

1 July to 30 September                                              (Payment due 21/10)
1 October to 31 December                                        (Payment due 21/1)
1 January to 31 March                                                (Payment due 21/4)
1 April to 30 June                                                         (Payment due 21/7)

Monthly Employer lodging & payment dates are 21st of the following month.

Note: if your super guarantee payments are not paid by the due dates, tax deductions are not allowed.

Lodging

You can now lodge your SGC statement/s, including bulk lodgements, online through the business portal. You can find the SGC statement on the ATO website at ato.gov.au/lodgeandpaysgc

The SGC

› is calculated on all salary and wages, which includes overtime, not just an employee’s usual hours of work
› isn’t tax deductible
› has an administration fee of $20 per employee per quarter, and
› includes interest (currently 10%) calculated from the start of the quarter that the SG wasn’t paid (in full or on time), up to the date that the SGC statement is lodged.

Need More Help?

If you have any queries or need help with your SGC obligations, contact us here at Sphere Accountants & Advisors on (03) 8899 6399.