Navigating Super Payment Due Dates: A Guide for Businesses

In the world of business, staying on top of financial obligations is paramount, and one such obligation that demands attention is superannuation payments. As per the Australian Taxation Office (ATO) guidelines, employers are required to ensure that their employees’ super payments are received by the designated funds on or before the quarterly due dates. This includes the compulsory Superannuation Guarantee (SG) contributions.

The quarterly due dates are spread throughout the year, with each period covering a three-month span. For instance, the first quarter runs from July 1st to September 30th, with payments due by October 28th. It’s essential to mark these dates in your calendar to avoid any oversights or late payments.

While the standard practice is to make payments quarterly, businesses have the flexibility to make more frequent payments, such as fortnightly or monthly. However, regardless of the frequency, it’s crucial to ensure that the total SG contribution for the quarter is paid by the due date to avoid penalties.

Failure to meet the quarterly payment deadlines or making late super payments can have repercussions. In such cases, employers are required to lodge an SGC statement and pay the SGC to the ATO. Additionally, missed or late payments are no longer tax-deductible, further underscoring the importance of timely compliance.

The SGC includes the SG shortfall, choice liability (capped at $500), nominal interest of 10% per annum (accruing from the start of the relevant quarter), and an administration fee of $20 per employee, per quarter. It’s important to note that the SGC is non-negotiable and cannot be remitted, highlighting the seriousness of adhering to super payment obligations.

Employers often utilise clearing houses to facilitate super contributions on behalf of their employees. While this can streamline the process, it’s essential to consider the processing timeframes of the clearing house to ensure that payments are processed before the due dates.

For those using the ATO’s Small Business Superannuation Clearing House, payments may be considered ‘paid’ on the date they are received, providing a potential advantage in meeting deadlines.

Quarterly Superannuation Due Dates:

QuarterPeriodPayment Due Date
11 July – 30 September28 October
21 October – 31 December28 January
31 January – 31 March28 April
41 April – 30 June28 July

In summary, staying informed about super payment due dates and ensuring timely compliance is crucial for businesses to avoid penalties and maintain financial integrity. By adhering to the ATO’s guidelines and leveraging available resources, employers can navigate the complexities of super payments with confidence and peace of mind.