Your March quarter superannuation guarantee contribution is due soon

Your September quarter superannuation guarantee contribution is due soon

Prepare now for your quarterly superannuation guarantee (SG) contribution lodgement and payment.

 

Here’s what you need to review:

 

  • Have you allocated all payroll related bank transactions to the correct accounts?
  • Have you checked for errors such as duplicate pay runs?
  • Have you checked that all payroll categories used this quarter have had super correctly applied or excluded?
  • Have you checked superannuation accrual reports for accuracy?
  • Do you have any salary sacrifice amounts to include?
  • Have you had to make any termination payments this quarter? If so, check which payroll categories have super calculated or exempted.
  • Do you have complete and up-to-date contact details and a super choice form for all employees?

 

Most superannuation clearing houses (including SuperStream compliant software companies) require payment by the 14th of the month in order to distribute the funds to the relevant super funds for each employee.

 

If you use the ATO Small business Clearing House (SBSCH) you have until the 28th to lodge and pay.

 

Checking the figures thoroughly each quarter ensures that you report and pay accurate amounts for each employee. You will also have a more accurate picture of your superannuation liability and be able to plan accordingly.

 

REMEMBER: To make your payments on time to avoid penalties.

 

Superannuation calculations can be difficult if your payroll software is not set up for correct accruals of superannuation guarantee. Talk to us. We can help review your super setup and the SG accounts used in your accounting software.

 

Acro Accounting & Financial Planning (AAFP) offers a one stop solution right from accounting, taxation, financial planning to other business advisory services. As Certified Practicing Accountants (CPA’s) and professional tax advisors, we pride ourselves on being experts with the latest developments relating to business and taxation. We as professional public practice firm, provide high quality taxation and business advice to our clients through a personalised service at competitive rates.

Related Articles

Closing Your Business
Are you thinking about closing your business? Talk to us first to assess viability and options for changing or pausing. If you’re ready to finish, we can help take care of all the administrative tasks involved to help minimise the stress of closing down.
Your March quarter activity statement is due soon. We can help prepare your BAS or review your business accounting systems to make your activity statement lodgement easy, accurate and efficient. #businesssystems #smallbiz
Can Your Business Claim the Loss Carry Back Tax Offset?
Did your business make an income tax loss in 2020? You may be eligible for the loss carry back tax offset in this financial year. Get in touch to see if your business qualifies and how to best use this refundable offset to generate cash flow.
Your September quarter superannuation guarantee contribution is due soon
Review your superannuation reports now for your quarterly superannuation guarantee contribution. Need help? We can assist with reviewing your super setup or preparing the lodgement. #smallbiz

Take the first step to grow your business.

We work with you and provide ongoing help and support with regards to financial and tax matters and to ensure you realise your goals as you move throughout your personal and professional life.

CONTACT US

Postal Office Park Unit 5A, 2994 Logan Rd

Cnr Lexington Rd, Underwood QLD 4119

P.O. Box 1147, Springwood QLD 4127

Mon-Fri, 8am-5pm

Sat, 8am-12pm

DISCLAIMERS

Legal Advice Disclaimer

The information on this website is of a general nature only and has been prepared without taking into account your particular objectives, financial situation or needs.


Before selecting any product or service or acting on any advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs.


If any information in this publication relates to a particular product or service, you should obtain any relevant disclosure statement for that product or service before making a decision about whether to acquire the product or service.

Liability limited by a scheme approved under Professional Standards Legislations.

Corporate Authorisation Representative

Mohammed Saheed (308525) and Acro Financial Services Pty Ltd t/a Acro Wealth Management (1246594) are Authorised Representative of Lifespan Financial Planning Pty Ltd ABN 23 065 921 735, AFSL No. 229892, ACL No. 229892, Level 23, 25 Bligh Street, SYDNEY NSW 2000.

© 2021 Acro Accounting & Financial Planning

Pin It on Pinterest

Share This