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With the advent of Single Touch Payroll and with super funds now being required to report to the ATO more regularly (at least once per month), non-payment of Superannuation Guarantee is likely to be detected earlier and more easily. One of the consequences of not paying on time and in full is that the employer will be liable for Superannuation Guarantee Charge (SGC). This is more punitive than Superannuation Guarantee and consists of the following four components:
(1) an admin fee of $20 per employee for which there has been a shortfall
(2) the shortfall
(4) part 7 penalties (which enable the ATO, at its discretion, to impose additional penalties of up to 200% of the SGC).
In respect of the shortfall (component 2, above) this is the amount that the employer did not pay by the due date. However, while for Superannuation Guarantee purposes this is based on an employee’s “ordinary time earnings”, the shortfall for SGC purposes is calculated on the wider concept of “salary and wages”. This includes amounts that are not included in ordinary time earnings, such as most overtime payments, certain termination payments, and leave loading in some cases. This means that if an employer does not pay Superannuation Guarantee on time and in full, then they could be liable to pay an SGC shortfall amount higher than the original amount of the contribution required to be made. Superannuation Guarantee Charge is also not tax deductible to the employer which can significantly to their annual tax bill.
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