As the June Quarter payment for superannuation guarantee is due today, I thought I’d share an email I received from the ATO, for your information.
“We acknowledge the evolving situation throughout Australia due to COVID-19 and for some employers paying super may be the last thing on their mind. The next superannuation guarantee (SG) due date is 28 July, and we are unable to extend the due date.
How to calculate super for employees
Your next SG payments due on 28 July are calculated on salary and wage payments you made to employees for the quarter ended 30 June 2021. The SG rate of 9.5% will apply to these SG payments.
From 1 July 2021, the SG rate has increased from 9.5% to 10%. The SG rate of 10% will need to be applied to all salary and wage payments you make to your employees on or after 1 July 2021, even if some or all of the pay period the payment relates to is before 1 July 2021.
The date of salary and wage payment determines the rate of the SG payable regardless of when the work was performed.
What to do next
It’s important to check, and update, your payroll or accounting software to ensure your workers are receiving the correct amount of super.
If you need help to work out your employees’ SG payments, visit our website: ato.gov.au/Payingsupercontributions
If you cannot pay by the due date, you need to lodge a Superannuation guarantee charge statement. If you can’t pay in full, we’ll work with you to set up a payment plan.”