Superannuation Guarantee Obligations – Attention All Employers!

The Government has recently established a new multi-agency working group, chaired by the ATO, to investigate superannuation guarantee non-compliance. If superannuation is not paid by the relevant due date, no tax deduction will be allowed. The employer will also be liable for the Super Guarantee Charge (SGC).

If you are not familiar with your Superannuation Guarantee obligations as an employer, you may be inadvertently breaking the law.

The following minimum standards apply to employers:

  • Superannuation must be paid for employees who are paid $450 or more per calendar month.
  • The current superannuation guarantee rate is 9.5% of Ordinary Time Earnings (OTE).
  • Superannuation must be paid and reported electronically in compliance with SuperStream requirements.
  • Superannuation payments must be made to complying funds. Employees may choose their own funds.
  • Superannuation Guarantee must be paid at least four times per year, by the quarterly due dates shown in the table below.
Quarter Ending Due Date
31 March 2017 28 April 2017
30 June 2017 28 July 2017
30 September 2017 28 October 2017
31 December 2017 28 January 2018

If you are concerned that you are not meeting your Superannuation Guarantee obligations, please contact us.

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