Does the ATO pass the received interest from the SGC statements on to the superfunds or do they keep it themselves as a penalty charge?
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Nominal Interest is the interest is paid to the employees superfund - it's for the interest the employee would have made if the SG payment was made on time. General Interest Charge (GIC) is interest paid to the ATO.
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Nominal Interest is the interest is paid to the employees superfund - it's for the interest the employee would have made if the SG payment was made on time. General Interest Charge (GIC) is interest paid to the ATO.
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