Missing a super guarantee (SG) payment deadline can create a significant problem for your business. If your eligible employee’s super fund didn’t receive the SG payment in full by 28 July, you’re now required to take action. Failing to meet this obligation can lead to additional costs and penalties, which can impact your business finances and reputation.
Delaying further will only make things worse. Not only are you required to pay the super guarantee charge (SGC) to the ATO, but you also need to lodge an SGC statement by 28 August. The SGC is more expensive than the original super contribution and isn’t tax deductible, adding unnecessary financial strain.
The solution is to act quickly. Ensure you lodge your SGC statement and make the payment by the deadline to avoid further penalties. Complete all required information accurately in the SGC statement spreadsheet to ensure prompt processing by the ATO. Following their guide and using the latest version of the spreadsheet is crucial.
If you’re feeling overwhelmed by the process or unsure of how to proceed, we’re here to help. Contact us for assistance in ensuring your compliance with SG obligations and avoiding further penalties. Let us handle the paperwork so you can focus on what matters most—running your business.
