The ATO has issued a reminder to businesses who may be subject to penalties for missing October 2020 deadline to fulfil their Superannuation Guarantee Obligations
Don’t be one of those businesses that is subject to penalties.
By law, the ATO has advised and reminded businesses they cannot extend the due date to pay superannuation.
If you have already missed the 28th October deadline to pay your quarterly SG contributions, you will need to lodge a superannuation guarantee by the 28th November 2020 to avoid penalties, after this date you will incur the penalties and believe me you don’t want to miss the deadline.
‘The ATO noted the superannuation guarantee charge is different to the regular contributions businesses pay and is made up of SG shortfall amounts, interest on those amounts (currently 10 per cent) and an administration fee of $20 per employee per quarter’
If you need assistance now, then please give me a call on 0429 363 047.
Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
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