Superannuation Guarantee

The ATO is stepping up the compliance regime for employee's super. Where super is not paid on time the data matching techniques available today will make compliance very easy to monitor.

If employee super is paid late businesses must lodge a 'superannuation guarantee charge (SGC) statement' reporting the late payment to the ATO and paying interest on overdue payments and the administration charge of $20 per employee per quarter.

If this is not done, the ATO will most likely send a letter requiring the lodging of the SGC statement.

Where our clients require our assistance, we have a set pricing policy in place:

• $150 per statement per quarter, plus $20 per employee per quarter.

• Any additional costs due to increased complexity would be communicated and quoted before we start the work.

Alternatively, our clients can prepare and lodge the super guarantee charge (SGC) statements themselves. We can provide generic guidance which may be covered under an existing fixed price agreement.

It is also important to know that in some cases, where there is an audit, preparation of these statements could be covered by audit insurance.

Please contact us direct if you have any further questions.