Superannuation Guarantee Payments – What you need to know!

Hey everyone, Kathryn here.

I wanted to highlight the importance of making your Superannuation Guarantee payments on time, and even more importantly, in advance of their due date.

The Superannuation Guarantee Charge (SGC) can be a costly penalty imposed by the Australian Taxation Office (ATO) on employers who fail to meet their superannuation obligations. That’s why it’s crucial to understand the significance of paying these contributions on time and preferably in advance, and recently we have received a lot of feedback from clients, and our network, that these payments can get delayed, especially closer to the due dates.

As a business owner, it’s your legal obligation to contribute a minimum of 10.5% of your employees’ ordinary time earnings to their chosen superannuation fund. This must be paid by the quarterly due dates, which are as follows:

It’s important to note that these due dates are the latest dates by which the contributions must be received by the superannuation fund. To ensure your contributions are made on time, it’s best to make your payments well in advance of these due dates.

We recommend you should be scheduling these payments at least 2 weeks ahead of the deadline. To make this even easier, please note that these payments can be made weekly, fortnightly or even monthly.

In fact we encourage paying the Superannuation payments at the same time as the wages or salaries for your employees. This approach ensures that you are meeting your obligations as an employer. It will also avoid having a large sum of payment make a dent in your cash flow. Of course, if you are using the Profit First system, you would have already put aside the cash into your designated account. If you wish to discuss how Profit First can assist you in this, please reach out to Nathan or myself.

Failing to meet these due dates can result in severe consequences for your business, including penalties, legal action, and even prosecution. By making your payments in advance, you can ensure that your contributions are received on time and avoid any potential issues.

Meeting your superannuation obligations is not only a legal requirement but also essential for the financial well-being of your employees. These payments provide your employees with a reliable source of income in their retirement years, so by meeting your obligations on time, you’re ensuring your employees receive the necessary contributions to their superannuation accounts.

In addition to the legal and ethical obligations, meeting your superannuation obligations on time can also have tax benefits for your business. Employers who make their superannuation contributions in line with the ATO’s deadlines can claim the payments as a tax deduction. This deduction can help to reduce your business’s taxable income and, in turn, reduce your tax liability.

Paying your Superannuation Guarantee contributions in advance of their due date is essential to avoid legal penalties, provide financial stability for your employees, and enjoy the tax benefits of contributing on time.

If you have any questions, please feel free to contact NGR Accounting at 02 9011 6669 or via email at



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