The Australian Taxation Office (ATO) has reminded employers that they must pay all superannuation contributions for the June quarter by this Friday, or risk facing penalties.
Deputy commissioner for taxation Geoff Robinson said even if employers contributed more frequently than quarterly, they had to pay all super contributions by Friday.
“Contributions made by the deadline are tax deductible,” he said. “Employers who don’t meet the deadline must lodge a superannuation guarantee charge statement and pay the superannuation guarantee charge to the ATO.”
Robinson said if an eligible employee made a valid choice of super fund more than two months ago, their super contributions must be paid to that chosen fund.
“Remember, employers can no longer pay the superannuation guarantee to the ATO superannuation holding special account, as the account closed on June 30, 2006,” he said.
