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MShelley(Enthusiast)Enthusiast
23 Aug 2023

Hi, I am completing the SGC form as we did not pay an employee enough super in Q1 FY23. I have the SGC Statement to complete. In the "SG Shortfall" column do I add the missed super only or the total super we should have paid. In this scenario the total super paid to the employee in Q1 FY23 should have been the employer contributions threshold of 6323.10 and instead we only paid 3000 so the difference we need to pay is $3323.10. Can you advise what goes where? I thought I would add the shortfall of $3323.10 however the person at the ATO told me it should be the total super and the late payment offset is that amount I have already paid. When I do this, it calculates a lot more than 10% interest.


Thanks.

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660 views
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Bruce4Tax(Taxicorn)Taxicorn
23 Aug 2023

If the $ 3000 was paid on time, then the shortfall is only $ 3323.10.


If the $ 3000 was paid late, the shortfall was $ 6323.10 - with $ 3000 to be counted as a late payment offset.


Alternatively, the late $ 3000 could be applied to the SG period in which it was paid - that way it becomes a tax deduction.


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Most helpful reply

Bruce4Tax(Taxicorn)Taxicorn
23 Aug 2023

If the $ 3000 was paid on time, then the shortfall is only $ 3323.10.


If the $ 3000 was paid late, the shortfall was $ 6323.10 - with $ 3000 to be counted as a late payment offset.


Alternatively, the late $ 3000 could be applied to the SG period in which it was paid - that way it becomes a tax deduction.


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