Wow, didn’t that first quarter fly past!
The end of the quarter (1 July – 30 Sept) means that
superannuation for that period must be calculated and paid into your employee’s
relevant superannuation funds. Please note the following:
- Superannuation
must reach the employee’s superannuation fund by the 28th
of October 2021. - If
superannuation is not received in their superannuation fund by the due
date, your business may be liable for fees and charges. - The
ATO states “If you do not pay an employee’s super on time and to the right
fund, you must pay the superannuation guarantee charge (SGC) and lodge an
SGC statement to us. The SGC is not tax-deductible”.
We strongly recommend that to avoid any potential fees and
charges, that you complete the necessary steps at least 7 business days before
the due date, to ensure funds can be processed and received by the super funds.
If you are a bookkeeping client and we process the superannuation
on your behalf, then we will ensure the payments are finalised in due course. If
you complete your own bookkeeping, then please be reminded of the above dates.
Remember, as a Prespa client, we are here to help you meet
all of your requirements, so please do not hesitate to contact us to discuss
the above, and we will gladly assist.
Thankyou
The Prespa Team!
“Liability limited by a scheme approved under Professional Standards Legislation.” This advice may not be suitable to you because it contains general advice that has not been tailored to your personal circumstances. Please seek personal financial advice prior to acting on this information.
