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ATO reminder on super payment deadline
The Australian Taxation Office (ATO) has reminded employers of the increase to the compulsory minimum super payments, with the first quarterly contributions due by 28 October.
ATO assistant commissioner Emma Haines said employers who make quarterly super payments on behalf of their employees should take note the superannuation guarantee has gone from 9.25 to 9.5 per cent from 1 July this year.
"Employers can use the ATO's online superannuation guarantee contributions calculator to work out how much super they must contribute for eligible workers," Haines said.
Small businesses can use ATO's small business superannuation clearing house service, where they can pay super contributions in one transaction to a single location.
Businesses with 19 employees or fewer can use it to pay the super contributions.
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