From 1 July 2026, employers must pay superannuation guarantee (SG) at the same time as salary and wages. The ATO are asking them to be ready and ensure all SG contributions arrive in their employees’ super funds within 7 business days of payday. There are a few exceptions where employers have a bit more time to make super contributions, like when they have a new employee.

To support you and your clients to be ready, the ATO have released:

• A short video, where Deputy Commissioner Emma Rosenzweig explains what employers need to know and do to be ready.
• SuperStream changes factsheet highlighting important changes to software, error messaging, and processing times.

The ATO and Mark Accountants will continue to add information, guidance and resources to our website and keep you updated.

Source: ATO

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Employers play a critical role in ensuring the future financial security of employees through paying Super Guarantee (SG) contributions to the right fund and at the correct rate.

The most recent due date for quarterly SG contributions was 29 July. If you’ve missed this date, even by a day, you need to get your super obligations back on track by lodging a Super Guarantee Charge (SGC) statement and paying the SGC to the ATO by 28 August. The ATO takes non-payment of SG seriously.

What is the SGC

The SGC statement lets us know of any missed or late SG payments. The SGC amount is paid to the ATO and includes more than the regular super contributions. Unlike on-time SG contributions, you can’t claim a tax deduction for the SGC. It includes:

• SG shortfall (based on salary and wages, not ordinary time earnings)
• choice liability (capped at $500)
• nominal interest (10% per annum)
• administration fee ($20 per employee, per quarter).

Common Errors For SG Payments

If you’ve incurred SGC and not sure why some common errors include:

• paying the SG contribution late or not at all
• not paying the SG contribution in full
• not paying the SG contribution to the right super fund.

Remember, if you use a commercial clearing house, you need to allow time for payments to reach your employee’s super fund by the due date. The due date is the date payments are received by the super fund, not the clearing house.

Tips to Complete SGC Statement

If you need to complete an SGC statement because you’ve missed the 29 July deadline, here’s some tips:

• follow our guide to completing the SGC statement
• use the latest version of the SGC form
• provide full employee identifying information
• when you lodge online with us, you don’t need to sign the declaration.

Work With The ATO to Get Back on Track

The ATO understand there may be pressures on your business. Although by law they can’t extend the due date of SG, if you’re behind or at risk of falling behind with your SG obligations, contact them as soon as possible so they can work with you to get you back on track.

If you need help to work out how much super you need to pay for your employees and eligible independent contractors:

• use the ATO’s super guarantee contributions calculator
• speak with your registered tax professional.

Source: ATO

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When you Close or Sell Your Business

Your business must continue to meet its obligations until it is either closed or sold to the new owners.

If you are an employer, it is important for you to consider finalising important tax issues for your workers, even though the business is no longer trading or has been sold. These issues include:

• fringe benefits tax (FBT)
• pay as you go (PAYG)
• superannuation
• eligible termination payments.

The ATO have tax tables and information on the taxation of termination payments to help work out your obligations.

Your obligations may vary, depending on whether the worker is an employee or contractor. Director penalties can apply for unpaid superannuation, PAYG withholding and GST liabilities the business has incurred, even if they are not yet due when you close the business.

Paying Superannuation

You are still required to pay the minimum amount of superannuation (SG) for your employees and some contractors to the correct fund by the due date in order to avoid being liable to pay a super guarantee charge (SGC). This will be based on ordinary time earnings for the quarter.

If you cannot pay the full SG contributions, pay as much as you can to their fund by the due date, to reduce the SGC. You will need to lodge the SGC statement within 28 days after the quarterly SG is due and pay the charge to us.

If you are having trouble paying the SGC, we can work with you to set up a payment arrangement.

Single Touch Payroll (STP) Reporting

If an employee’s employment has ended, make sure you report their cessation (end) date in your STP report. How you report about your employee depends on whether you’re using STP Phase 1 or STP Phase 2 reporting. If you are using STP Phase 2 you will also need to report the employee’s reason for leaving.

If you have already paid them their final pay, you can still tell us this information by submitting an update event. You don’t need to wait until the end of financial year to finalise your STP data. Finalising is an important step as it enables individuals to lodge their income tax return at the end of the year.

If you don’t report through STP you will need to lodge a PAYG payment summary annual report.

Your Superannuation

If you are planning for retirement, are semi-retired or just looking at your options, the superannuation system may influence what you do with the proceeds from the sale of your business.

The withdrawing your super and paying tax measure allows individuals to access their super benefits, once they reach their preservation age, without having to retire or leave their jobs.

Source: ATO

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Super is an Investment in Your Future

Australia’s superannuation system is the main way most people save for their retirement.

Superannuation (super for short) is a long-term investment that grows over time. The more you contribute during your working life, the more you’ll have for your retirement.

For most people, super begins when you start work and your employer starts paying a percentage of your salary or wages into your super fund. Your employer pays your super on top of your wages. You can also make additional voluntary contributions up to a cap. Your chosen super fund invests and manages this money for you until you retire. Your super fund will offer you a range of investment options and account types to help you choose what’s best for you.

What You Need to Do

You can generally choose what fund your super is invested in, and how it is invested. You need to keep track of your super, checking that your employer is contributing the right amount and ensuring it’s most effectively invested for your circumstances.

Contributions

There are caps on how much you or others can contribute to your super without paying extra tax. Contributions made out of pre-tax income are called concessional contributions while contributions made from post-tax income are called non-concessional contributions.

Withdrawal and Retirement

Except in very limited circumstances, you can’t withdraw amounts from super or start an income stream until you’ve reached your preservation age (between 55 and 60 years of age – depending on your year of birth) and meet the relevant conditions of release. Penalties and fees apply if super is accessed illegally. It’s important you meet the requirements before you access your super. Be wary of anyone offering to help you withdraw your super early.

How the ATO Can Help You

Via the links below you’ll find information on your super entitlements and the rules and tax treatment applying to contributions and withdrawals.

If you’re unsure of what super accounts you hold, you can log in to ATO online services (including ATO App) through myGov to monitor and keep track of your super.

If you need help to choose a super fund, our YourSuper comparison tool will help you compare MySuper products (basic superannuation accounts without unnecessary features and fees) and choose a fund that meets your needs. The Australian Securities and Investments Commission (ASIC) MoneysmartExternal Link website also provides information on what to look for when comparing and choosing a super fund.

Other sources of information and support

As well as the information and tools on the ATO website, you can find out more to help you plan for your retirement from other sources:

• your employer, who should be able to explain how their contributions to your super are calculated and paid
• your super fund, on how your super is invested and your options
• a financial adviser, for advice on financial planning for your retirement

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