by PBS Partners | Oct 16, 2019 | Tax Advice
Prepare now for your quarterly superannuation guarantee (SG) contribution lodgement and payment.
Things to review before finalising the quarterly superannuation lodgement:
Most superannuation clearing houses (including SuperStream compliant software companies) require payment by the 14th of the month in order to distribute the funds to the relevant super funds for each employee.
If you use the ATO Small business Clearing House (SBSCH) you have until the 28th to lodge and pay.
Checking the figures thoroughly each quarter ensures that you report and pay accurate amounts for each employee. You will also have a more accurate picture of your superannuation liability and be able to plan accordingly.
Penalties for late super can be severe. Superannuation calculations can be difficult if your payroll software is not set-up for correct accruals of superannuation guarantee.
We can help you review of your super set-up and the SG accounts used in your accounting software.