Why “Paying on Time” might actually be late
The deadline for Quarterly Super Guarantee contributions is the 28th of the following month. But here’s the catch: the ATO considers super “paid” only when it is received by the fund, not when it leaves your bank account.
If you use a clearing house, it can take anywhere from three to seven business days for that money to clear. If you click “pay” on the 28th, you are technically late, which can trigger the dreaded Super Guarantee Charge (SGC) statement and unnecessary interest penalties.
Our Genie Advice: Aim to have your super processed by the 15th of the month. It ensures your employees are looked after and keeps your compliance record spotless.
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