The December 2021 quarter superannuation guarantee payments are due by 28th January.  This means that the Superannuation Fund must receive the contributions to their bank account by that date to satisfy the requirements.

The ATO now has direct access to the timing of receipt of these payments from each superannuation fund and are matching that to your Single Touch Payroll reports to find unpaid or late contributions.

If the funds are not received by the superfund’s bank account by the due date (even if only 1 day late), you will be required to lodge a superannuation guarantee charge form which is made up of:

  • The unpaid or late paid superannuation calculated on ALL earnings including overtime, not the usual Ordinary Time Earnings;
  • Interest on these amounts calculated at 10%, payable from the start of the quarter that the super relates, to the date the form is lodged;
  • An administration fee of $20 per employee per quarter; and
  • Further penalties of up to 200% may also be imposed in extreme circumstances.

When paid late, the superannuation contributions and additional charges are NOT allowed as a tax deduction

If you have any questions on any of the above or would like to discuss your superannuation obligations, please contact your Adviser on (07) 3875 9888 for Salisbury office or (07) 3245 9966 for Woolloongabba and Capalaba.