Superannuation Payment Dates

Written By: Kelly Horsfield

Australia’s superannuation law is strict with regards to paying by the due date. Even if you’re late by one day, you can be penalised. If your payments are significantly late, the ATO can demand that you complete a Superannuation Guarantee Charge Statement, and pay the super plus interest and an administration fee. These non-tax-deductible expenses can cost you thousands of dollars so it is in your best interest to pay on time.

When to pay super?

Each year the dates when super is payable by employers are the same:

superannuation payment dates

When a due date falls on a weekend or public holiday, you can make the payment on the next working day.

You can make payments more regularly than quarterly if you want to (for example, fortnightly or monthly) as long as your total SG obligation for the quarter is paid by the due date.

Do you need to pay superannuation?

This article will provide a guide to help you determine whether or not you are eligible to pay superannuation to your employees, as well as some exemptions.

Are there other types of superannuation payments?

Generally there are two types of payments:

  • Compulsory Super Guarantee contributions: The mandatory contribution you make to your employees’ super funds, set as a percentage of their regular wage. The current rate is 9.5%.
  • Reportable Superannuation Contributions: In most cases, the extra voluntary payments made at the request of an employee out of their wage. The most common of these is salary sacrificing.

If you are still feeling lost on your obligations or would like to reassure yourself, feel free to book a consultation with one of our friendly business advisers who will point you in the right direction.

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