• approved SMSF auditors (and SMSF trustees – if they hold an ABN).
• businesses and their owners.
• not-for-profits.
• other organisations.

Logging in to Online services to business

• how to log in
• setting up your permissions

Home Page Functions (including)

• Account Header
• Menu
• Notifications
• Items for Action  
• Quick Links
• Feedback
• More Information
• Help Links

Account and Payments

• view your accounts
• payment plans and options
• transfers
• refunds

Lodgements

• Income Tax Returns
• BAS
• and over a dozen other lodgement items

Employees Menu

Used by businesses to manage most employer obligations, including

• registrations
• annual PAYG withholding reports
• TFN declarations
• STP functions
• Superannuation functions

Communication with the ATO

• secure mail
• lodging Tax Return amendments
• communication history

Profile Menu

Used by businesses to manage their business details with the ATO, including

• business details
• business addresses
• email addresses
• authorised contacts
• Registered Agents details
• associates
• financial institution details
• card details
• add, update or cancel a tax type
• SMSF auditor details

Of course, if you don’t want to go it alone, or you are worried about getting it wrong, use the services of a registered tax agent. This is the best way to ensure that your lodgements are not only made on time, but are both correct and compliant.

The experienced team at Accountplan have been helping client of all sizes get it right for almost 40yrs. For peace of mind call us on 07 3883 8999.

The post ATO Online Services for Business – User Guide appeared first on Mark Accountants.

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

The post PayDay Super is Law – Get Ready Today appeared first on Mark Accountants.

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

The post Keep Your Super Obligations on Track appeared first on Mark Accountants.

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

The post What is Super appeared first on Mark Accountants.

If you missed the due date, didn’t pay the right amount, or didn’t pay to the right super fund, you’ll need to:

• lodge a Super guarantee charge (SGC) statement to the ATO by 28 August to disclose all missed or late super contributions
• pay the SGC to the ATO.

The SGC statement can help you calculate the SGC. If you don’t lodge your SGC statement by the due date, you may face an additional penalty of up to 200% of the SGC.

Remember, your tax professional can help you with your tax and super obligations.

Source: ATO

The post Did You Miss the Super Guarantee Due Date? appeared first on Mark Accountants.

SG payments must be made at least four times a year and must be received by your employee’s fund on or before the quarterly due dates. These dates are the 28th of January, April, July and October each year. It’s important to note that some super funds, awards, and contracts may also require you to pay super more regularly. It’s important to make these payments on time and to the right fund, otherwise you will end up paying the super guarantee charge, also known as SGC, and you may face additional penalties.

SGC is more than the super you would have otherwise paid to the employee’s fund. It’s calculated on salary and wages instead of ordinary time earnings. It may include things like overtime and allowances, as well as interest and other fees. SGC is not tax deductible, so it’s best you pay on time.

If you do find yourself in this situation because you have paid late or haven’t paid the correct amount, then you’re required to lodge an SGC statement. You must lodge an SGC statement if your SG contributions were late, even if you have already paid in full to the fund. The SGC statement is due within one month of the quarterly payment due date that you missed.

We talk more about the SGC statement in our ‘What is a super guarantee charge statement’ video, so I encourage you to watch for more information. You may be able to claim a late payment offset if you meet certain conditions. This may allow you to offset the amount of super contributions that you have already paid to reduce the SGC you owe.

If you miss your SGC statement due dates and don’t let us know, we may raise an additional penalty known as a ‘Part 7 penalty’, which can be up to 200% of the SGC amount payable. We know mistakes can happen and we’re here to support you to get it right. Remember, you must lodge an SGC statement if you pay late, even if you can’t afford to pay all of the SGC owed. We can help you to set up a payment arrangement. More information on paying super on time and the late payment offset is available by visiting ato.gov.au/latepayments.”

Source: ATO

The post ATO: Paying Super Guarantee Late appeared first on Mark Accountants.

If your employee has a chosen super fund, pay their super contributions into this fund. If they don’t, you need to request their stapled super fund details from the ATO. A stapled fund is an existing super account which is linked or stapled to an individual employee, so it follows them as they change jobs. If there’s no stapled fund available, you can assign your default super fund for their contributions.

It’s important to make your choice of super fund obligations. If you don’t, you could face additional penalties. When paying super, you’re required to make contributions on behalf of all eligible employees and contractors. The minimum amount of super you need to pay is called the Superannuation Guarantee, also known as SG. Before 1 July 2023, the SG rate is 10.5%, but from 1 July onwards the SG rate increases to 11%.

SG must be paid at least quarterly, but you can pay more often. The SG quarterly due dates are the 28th of January, April, July and October each year. Some super funds, awards and contracts may require you to make payments more regularly. When paying super contributions, you must pay in full, on time and into the correct fund for all your eligible employees and contractors.

Check with the Fund to ensure you allow plenty of time for your SG contributions to be received before the due date and allow extra time for processing if you’re using a clearing house. If you’re late or don’t pay the correct SG amount, you’ll need to pay an additional charge known as the superannuation guarantee charge or SGC. This amount is paid to the ATO by lodging an SGC statement.

It’s also more than the amount you would have otherwise paid for super and isn’t tax deductible, so you’re better off getting it right the first time. For more information about your super obligations, visit ato.gov.au/superforemployers.

Source: ATO

The post Super for Employers appeared first on Mark Accountants.

Why you should review your super

Your super is one of the biggest assets you’ll accumulate in your lifetime.

However, many Australians think they don’t need to worry about their super until retirement. Some don’t think about it at all.

It’s never too early to think about your super and the earlier you get on top of it, the better. It’s a good idea to regularly review and manage your super. At the very least, make sure you:

• are getting the super you are entitled to from your employer
• know where it is.

Small decisions you make today can have big impacts on your final super outcomes.

For instance, missing out on some employer contributions today, could have a huge impact on your super balance in retirement due to the compounding effect of earnings. The same can happen if you have lost or unclaimed super.

Benefits of a super health check

A super health check consists of 5 simple and important things you can do to get on top of your super today. It will help you:

• manage your super
• understand your entitlements
• make better choices for when you retire.

You can check on your super at any time. However, we suggest you get into the habit of doing a health check each year when you prepare your tax return.

Get started

To start, follow the prompts below or download the super health check (NAT 75489, PDF 231KB)

The best way to perform these checks is either on ATO online services through myGov or by contacting your super fund directly. You just need a myGov account linked to the ATO.

Once you link your myGov account, you can also use the ATO app.

Check 1: Check your contact details

Check your contact details, tax file number (TFN) and bank account are up to date with us and your super fund. This helps prevent lost super and assists us in matching any unclaimed super to you.

Log on to ATO online services through myGov. In the top menu, select My profile. From the drop-down options, select either:

• Personal details to update your name, contact number, email and home address
• Financial institution details to update your bank account and
  • under the Account heading, you will see Income Tax and Superannuation
  • select either Add or Update.

To update your contact details, bank account and TFN with your super fund, see their website or contact them directly.

Check 2: Check your super balance and employer contributions

It’s important to check your super balance each year to see how much you have and keep track of your employer contributions. You can do this anytime on ATO online services or through your super fund.

Your employer should pay your super at least every 3 months. They may choose to do it more frequently, such as your regular pay cycle. From 1 July 2022 to 30 June 2023, your employer should pay at least 10.5% of your salary into your super. From 1 July 2023 to 30 June 2024, the rate increases to 11%. If you’re under 18, you need to work more than 30 hours a week to be eligible for super.

Funds report account balances to us at certain times of the year. Balances shown in ATO online services may be different to your actual current balances.

Log on to ATO online services through myGov. From the top menu, select Super and then either:

• Fund details to see all your super accounts and balances (including those held in funds or with us) and the most recent data reported by your fund.
• Information then Employer contributions to see the total year-to-date employer contributions in a selected year – select Transactions to see each contribution separately.

For help calculating the amount of super your employer should be paying, use our Estimate my super tool. If you do not receive super contributions or the amounts are incorrect:

• contact your employer and request an update
• report it to the ATO.

Check 3: Check for lost and unclaimed super

You may have lost track of some of your super when you changed your name, address or job, for example. This is why it’s important to ensure your fund has your current details.

Lost super is when your fund has lost touch with you, or your account is inactive. This money is held by your fund. Unclaimed super is when your fund transfers lost super to us.

All your super accounts including lost and ATO held super are displayed on ATO online services.

Log on to ATO online services through myGov. From the top menu, select Super. Then select either:

• Fund details to check for lost super – if you want to keep your super with the same fund, contact them directly to update your details.
• Manage and then Transfer super to transfer this lost super to an eligible super account – or ask your fund to complete the transfer for you.
• Manage and then Transfer super to transfer ATO held super to an eligible super account.
• Manage and then Withdraw ATO-held super to have your super paid directly to you if the amount is less than $200 or you are over 65.

Check 4: Check if you have multiple super accounts and consider consolidating

If you’ve had more than one job, you may have more than one super account. It’s important to know how many super accounts you have. Combining your super may reduce fees and make it easier to manage.

If you decide to consolidate your super, it’s important to choose the fund that’s right for you. You should check that it provides better value, and the insurance cover suits your needs, which may change throughout your life. To see which fund is the best option for you, visit MoneySmart. If you are unsure of what to do, contact your super fund or seek independent financial advice.

Log on to ATO online services through myGov. From the top menu, select Super then either:

• Fund details to see all your super accounts and balances.
• Manage and then Transfer super to consolidate your accounts, then
  • select the fund you want to close (transfer)
  • select the fund you want your money transferred to from the accounts listed
  • confirm your selection and submit request.

Check 5: Check your nominated beneficiary

Take the time to ensure you have a valid death beneficiary nomination in place with your super fund as this isn’t covered by your will. This means your loved ones will not be put through unnecessary difficulties to finalise your estate.

Most binding nominations expire every 3 years. Some super funds have an option where nominations do not expire and remain in place until they are revoked.

If you don’t nominate a beneficiary, your fund may not know who your benefit should be paid to. In these cases, they will follow the law. This usually means they pay it to one or more of your dependents or your legal personal representative.

To check or nominate your death beneficiary:

• Refer to your super fund’s website or contact them to check if you already have a valid nomination in place.
• To update it, complete the form from your super fund, sign and date in the presence of 2 witnesses.
• If you are unsure, contact your super fund or seek independent financial or legal advice from a qualified estate planner.

Source: ATO

The post Super Health Check appeared first on Mark Accountants.

This is an increase of $2.1 billion since last financial year and the ATO is urging Australians to check their account to see if some of the money is theirs.

Deputy Commissioner Emma Rosenzweig said finding lost or unclaimed super is easy and can be done in a matter of minutes.

“Super is one of the most important investments many Australians will have during their lifetime, which is why we want to reunite hardworking Australians with what is rightfully theirs. When it comes to protecting your financial future, every bit counts,” said Ms Rosenzweig.

“People often lose contact with their super funds when they change jobs, move house, or simply forget to update their details.

“This doesn’t mean your super is lost forever – far from it. By accessing ATO online services through myGov, you can easily find your lost or unclaimed super.”

Super becomes ‘lost super’ when it is still held by the fund but the member is uncontactable or the account is inactive. Super funds currently hold $10.4 billion in lost super.

Super providers are required to report and pay super to the ATO once it reaches certain USM category requirements. The ATO currently holds $5.6 billion in super, an increase of $1.6 billion (40%) since 2019.  

“All lost member accounts with balances of $6,000 or less are transferred to the ATO, which means there are large sums of money waiting for people to claim,” said Ms Rosenzweig.

Since November 2019, ATO has proactively consolidated almost 4.7 million accounts with a value of $7.1 billion dollars.

“While we’re doing all we can to get this money back where it belongs, we rely on people keeping their contact information up-to-date. The best thing you can do to ensure you’re getting what you’re entitled to is checking that your current contact information and bank account details are correct,” continued Ms Rosenzweig.

The new data also shows almost 1 in 4 (23%) Australians hold two or more super accounts which can contribute to forgetting about or losing super.

“It’s important to remain engaged with your super fund through all stages of your life, not just when you are ready to retire,” said Ms Rosenzweig.

“While we know that some people intentionally maintain a number of accounts, some are unaware that this is the case. If you’ve unknowingly got multiple accounts, you could possibly be losing hundreds of dollars a year to fees.”

If you’re unsure whether or not to consolidate your accounts, check with your super fund who can advise if there are any exit fees or whether you will lose any valuable insurance.

For information on how to manage your super and view all your super accounts, including lost and unclaimed super, visit ato.gov.au/checkyoursuper

Source: ATO

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