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Salomone Accountants is fast becoming a leading accounting firm in Brisbane and is widely recognised for the outstanding personalised service our clients enjoy.

We are conveniently located in the heart of Cafés, Shops and Restaurants just behind the La Dolce Vita Café and the iconic Eiffel Tower at Milton.

Salomone Accountants offers a range of accounting services and specialises in taxation and compliance, preparation of financial accounts and business consulting. Our clients include small and large businesses, professional individuals, property investors and share investors.

At Salomone Accountants the process of completing your taxation returns and financial accounts is made easy for our clients to help them achieve life balance.

Priding ourselves on our exceptional service, we provide our professional staff with the on-going extensive technical training and development needed to uphold our status and keep us positioned above the rest.

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News

How does the super guarantee charge work?

September 20, 2017

Employers who do not pay the minimum amount of super guarantee for their employee(s) by the due date may have to pay the super guarantee charge (SGC).

The charge is made up of super guarantee shortfall amounts including any choice liability calculated on your employee’s salary or wages, interest on those amounts (currently 10 per cent) and an administration fee ($20 per employee, per quarter).

Employers must report and rectify the missing payment by lodging an SGC statement by the due date and paying the SGC to the ATO. Employers may be able to use a late payment to reduce the amount of SGC, however, they must still lodge an SGC statement and pay the balance of the SGC to the ATO.

The ATO prioritises the collection of unpaid SGC debts. If an employee reports an employer for unpaid super, the ATO will investigate on their behalf.

Employers must lodge their SGC statement and pay the charge by the due date.

Quarter Period Due date
1 1 July – 30 September 28 November
2 1 October – 31 December 28 February
3 1 January – 31 March 28 May
4 1 April – 30 June 28 August

If a due date falls on a weekend or public holiday, the payment can be made the next working day.

Once the statement has been lodged and the SGC is paid, the ATO will transfer the super guarantee shortfall amount and any interest to the employee’s chosen super fund.