Superannuation
The SGC rate is 9% of gross wages for
years ended 30 June 2003 and following years.
If your business paid the
contributions for employees for the June quarter before 30 June , they will be tax deductible
in that year.
If you paid the contributions due on 30
June by the following 28 July , there will be a tax deduction in that
following year. Up to 30 June 2003
you could pay such contributions yearly. However, from
1 July 2003 all employers had to make those contributions quarterly.
For Example:
|
Quarter ended |
Pay by |
30 September
|
28 October
|
31 December
|
28 January
|
31 March
|
28 April
|
30 June
|
28 July
|
WARNING
If you pay after the above dates,
penalties apply but the aspect that hurts is that late payments of super
contributions for your staff are NOT tax deductible. Contact us for more details.
The ATO is currently conducting
a program to ensure employers are paying superannuation contributions for their
staff correctly.
