Missed or underpaid super amounts?

(ATO)
www.ato.gov.au
3 November 2020

 

Business downturn due to COVID-19 may be affecting your business and you may have missed, or not paid in full, regular payments.

This includes your employees’ super guarantee (SG) for the quarter ended 30 September 2020.

By law, we can’t extend the due date to pay super.

To meet your obligations, lodge a Superannuation guarantee charge statement to us by 28¬†November 2020, even if you can’t pay in full. Doing this will mean you avoid penalties and we can work with you to set up a payment plan that suits your circumstances.

The super guarantee charge is different from the regular contributions you pay and comprises:

  • SG shortfall amounts
  • interest on those amounts (currently 10%)
  • an administration fee of $20¬†per¬†employee, per quarter.

You lodge a statement through the Business Portal by either:

  • using the super guarantee charge calculator
  • completing the super guarantee charge spreadsheet and sending it via the mail function.

 

Significant penalties can apply if you don’t lodge a statement by the due date.

For help contact our Emergency Support Infoline on 1800 806 218 or speak with your tax adviser.

 

Next steps:

 

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