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Long term adjustment to Superannuation

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Replies 2

Hi,

 

I am a Sole Director of a pty ltd company with no employees. It has recently come to my attention that I should have been paying superannuation as part the directors fees I have paid myself over the last 7 years. I would like to amend this.What is the best way to process this? Should I use the Small Business Superannuation Clearing House on the business portal? Would this be better handled via a letter to the ATO? Many thanks

1 ACCEPTED SOLUTION

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Best answer

Devotee

Replies 1

Hi @dtaxtime 

 

If your company hasn't paid the required super guarantee (SG) payments for an employee by the due date then you'll have to pay the super guarantee charge, which includes the SG shortfall, interest and admin fees. To pay the super guarantee charge you have to lodge an SGC statement with the ATO.

 

Read more here:

The super guarantee charge (SGC)

 

JF

 

This is my personal view; I’m an ATO employee who chooses to help out here in my own time.

2 REPLIES 2

Best answer

Devotee

Replies 1

Hi @dtaxtime 

 

If your company hasn't paid the required super guarantee (SG) payments for an employee by the due date then you'll have to pay the super guarantee charge, which includes the SG shortfall, interest and admin fees. To pay the super guarantee charge you have to lodge an SGC statement with the ATO.

 

Read more here:

The super guarantee charge (SGC)

 

JF

 

This is my personal view; I’m an ATO employee who chooses to help out here in my own time.

Anonymous

Replies 0

Hi @JamesF 

 

are you from the ATO super area ??

 

 

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