September 2019 Quarter Superannuation Guarantee Payments
A friendly reminder that your business’s superannuation payments for the September 2019 quarter will be due on the 28th October 2019.
To make sure that payments are received by the superannuation funds by the due date, we recommend you process and pay your employee’s superannuation at least one week before the due date.
As superannuation payments are now processed through the superannuation clearing house, it may take a couple of working days for the payments to be processed and the amounts to be distributed to each of your employee’s superannuation funds accordingly.
Please note that late superannuation payment are not tax-deductible, and they incur interest and administrative penalties.
For superannuation payments to be deductible, the superannuation fund will need to receive the contributions by the due date.
If the due date falls on a weekend or public holiday the payment can be received by the superannuation fund on the next working day and still be deductible.
It is a legal requirement that superannuation for eligible employees be paid 28 days after the end of each quarter.
Be organised and pay your obligations on time!
Contact CrossCorp to find out more.
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