Adams Accounting Blog

  • Did you know?

    As a business, if you do not pay your employee superannuation guarantee contributions by the quarterly cut-off date, you are not able to claim a tax deduction for the superannuation amount!

    Even just one day late means you are unable to claim a tax deduction!

    In addition, if superannuation is paid later than the cut-off date the employer needs to lodge a "Superannuation guarantee charge statement" for each late quarter. This includes the original SGC, an admin fee of $20 per employee per quarter plus 10% interest on the total from the first day of the quarter.

    To avoid all of this, and in order to claim a full tax deduction for the payments, super must be paid and received by the superannuation fund by the quarterly cut-off dates below:

    Quarter Period Payment cut-off date
    1 1 July – 30 September 28 October
    2 1 October – 31 December 28 January
    3 1 January – 31 March 28 April
    4 1 April – 30 June 28 July

    Think you've breached these rules? Contact us to discuss your options.


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