What is the Superannuation deadline for December quarter?

If you are paying your employee Superannuation quarterly, the deadline for paying is fast approaching. Thursday, 28 January is the date.

If you pay your super through your accounting software, there may be a time lag for processing the lodgment of your employees’ superannuation and the payment. The payment has to arrive at the super fund no later than 28 January to get your superannuation as a tax deduction. It’s a good idea to check the processing time of your superannuation lodgment and payment.

Is your lodgment notice processed on the day you submit it? There could be a time lag of up to fourteen days, likewise for the payment. Many accountants recommend lodging and paying fourteen days before the due date.

If you need help with identifying the timing of the process for your accounting software, contact me and I can check and confirm how long the processing time is for your business.

If you haven’t paid the minimum amount to the correct fund on time, you will be required to lodge a Superannuation guarantee charge statement and pay the superannuation guarantee charge.

For more information on the employee superannuation rules go here: When to pay super | Australian Taxation Office (ato.gov.au)