Superannuation Payment Deadlines
Superannuation payments are essential contributions that employers must make to their employees’ super funds and they are required to be paid by specific quarterly due dates.
Timely payments are essential for complying with legal obligations and avoiding penalties. They ensure that employees receive their entitlements, support their retirement savings and maintain trust and satisfaction within the workforce.
Key information on super payment timing
Super payments can be made fortnightly, monthly or quarterly, but they must be paid by the 28th of the month after the end of each quarter. If the due date falls on a Saturday, Sunday or Public Holiday, payments can be made on the following business day. To avoid penalties, ensure that payments are made on or before the quarterly due dates.
Here’s a breakdown of the quarterly super payment due dates:
Quarter 1
1 July – 30 September
Payment due date: 28 October
Quarter 2
1 October – 31 December
Payment due date: 28 January
Quarter 3
1 January – 31 March
Payment due date: 28 April
Quarter 4
1 April – 30 June
Payment due date: 28 July
What if payments are late?
If you miss a superannuation payment or fail to pay on time, you may incur a Superannuation Guarantee Charge (SGC). This includes submitting an SGC statement to the Australian Taxation Office (ATO) and paying the charge.
If you find yourself in this situation, we can help you through the process, assisting you with preparing and submitting the necessary documents, calculating the charge and ensuring compliance with ATO requirements.
Important information on clearing housing processing
If you use a clearing house to distribute super guarantee funds to the employees, be aware that payments made before the due date might not reach the super fund until after the due date. Your super payment is only considered ‘paid’ when the super fund receives it, not when the clearing house receives it.
To avoid any issues, allow sufficient time for your payment to be processed by the super fund. If using the ATO’s Small Business Clearing House, payments might be counted as ‘paid’ on the date it’s received. Always check your clearing house’s processing times to ensure payments are on time.
Additional considerations
Meeting super guarantee contribution payment dates does not guarantee compliance with all super funds, awards and contracts. It is advised to review all contract obligations to remain compliant.
If you have any questions or require more information on how to navigate superannuation payments, contact your Simmons Livingstone advisor at 1800 618 800 or via email at admin@simmonslivingstone.com.au.
