April – June 2023 super is due now

Any unpaid April-June super contributions must be received (by fund) by 28th July.
(This is the final payment of super at 10.5%, all payments made to staff on or after 1st July accrue super at 11% and must be paid by 28th October).

Payments should be authorised right now as it can take several days to process.

Late payments of superannuation require a Super Guarantee Charge (SGC) statement to be submitted to the ATO, this increases the debt as interest needs to be paid to the employee to compensate them for missed earnings and fines are levied to punish you.
ATO says: The SGC is not deductible and is made up of:
– super calculated on salary and wages (including any overtime)
– nominal interest of 10% per annum (accrues from the start of the relevant quarter)
– an administration fee of $20 per employee, per quarter.

If you are a director of a company, you need to pay the SGC in full by the due date. If you do not, you’ll be liable for a penalty equal to the unpaid amount, so prioritise this over any other payment.