SG requirements

The Superannuation Guarantee (SG) requires all employers to provide super for their employees (with few exceptions), based on a set percentage of each employee's pay. As at July 2004, the SG contribution level is 9%. SG contributions must be made to a complying super fund at least quarterly and are tax deductible to the employer.

Employers may make SG payments more frequently (eg monthly) however the due dates for SG contributions are:

• 28 October (for the quarter ending 30 September)
• 28 January (for the quarter ending 31 December)
• 28 April (for the quarter ending 31 March)
• 28 July (for the quarter ending 30 June)
  

Employers who do not meet their SG obligations will have to pay a charge equal to the contribution shortfall (which is not tax deductible) plus interest and an administration charge. An employer paying super under an industrial award, or other workplace agreement, will have these amounts counted towards their SG contribution amounts. The Australian Tax Office (ATO) is responsible for the SG. Compliance for SG is by self-assessment, and may be subject to audit by the ATO. 

For specific information regarding your SG obligations visit the ATO website.