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Attention Small Business Owners: Ensure You Meet Your Employee Super Guarantee (SG) Obligations

Attention Small Business Owners: Ensure You Meet Your Employee Super Guarantee (SG) Obligations



As a business owner, you're responsible for making super contributions to your employees' accounts. If you missed the deadline to pay SG contributions for the quarter ending 31 December, you may face penalties and charges.


To avoid additional penalties of up to 200% of the SGC, you must lodge an SGC statement with the Australian Taxation Office (ATO) by 28 February, even if you can't pay by the due date. You'll also need to pay the SGC to the ATO or set up a payment arrangement.


As of 1 July 2022, changes were made to SG, including an increase in the rate from 10% to 10.5% and the removal of the $450 per month eligibility threshold. If you didn't apply these changes in your calculations, you'll need to lodge an SGC statement and pay the charge to the ATO. Use our SG eligibility tool to determine if you need to pay super for your employees.


Don't risk facing penalties and charges for missing your SG contributions. Speak to Stellar Bookkeeping if you need help working out your super obligations. We can help ensure that you meet your obligations and avoid penalties. Contact us today to learn more.

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