WebJul 18, 2024 · If you have missed or make late super payments, you may need to pay the superannuation guarantee charge (SGC). Superannuation Guarantee Charge Statement. Employers who do not pay minimum super contributions by the due date must pay the super guarantee charge (SGC) and lodge a SGC statement by the following date: ... WebFeb 17, 2024 · The superannuation guarantee ( SG) is the minimum amount of superannuation you must pay to your worker’s super fund. Currently, the SG is 10.5% of a worker’s ordinary time earnings (OTE) (increasing to 11% from July 1, 2024). Indeed, OTE is the amount your worker earns for their ordinary hours of work.
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WebMar 31, 2024 · The super guarantee charge applies if an employer doesn’t pay an employee’s super guarantee on time and to the correct fund. The charge is paid to the Australian … WebJul 4, 2024 · 1.5 The Superannuation Guarantee Charge (SGC) Employers who do not pay superannuation contributions for an employee for a quarter are liable to pay a penalty via the superannuation guarantee charge. What is the charge made up of? The charge (not tax-deductible) is made up of: Interest on the amount (at 10%) fair isle sweater poncho
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Web1 July 2024 – 30 June 2025. 11.50%. 1 July 2025 – 30 June 2026 and onwards. 12.00%. As an employer, if you don’t pay the required SG contributions into your employees’ super … WebThe SGC has three components: SG shortfall amount (including any choice liability) Interest on the SG shortfall amount, which accrues from the start of the relevant quarter. The … WebFeb 6, 2024 · The Part 7 penalty — additional SG charge. On 25 November 2024, the ATO finalised PS LA 2024/3, the ATO’s practice statement on the remission of the additional 200% Superannuation Guarantee Charge (SGC) imposed under Part 7 of the Superannuation Guarantee (Administration) Act 1992 (SGAA). fairkauf online shop