Paying employee superannuation
Superannuation guarantee (SG) payments must be made to complying superannuation funds or retirement savings accounts by the appropriate quarterly date - this is 28 days after the end of the quarter. Many employers pay more frequently which is also acceptable, particularly if an employer has an agreement with a superannuation fund that they will pay their superannuation monthly. If you are not sure if this applies to your organisation, please confirm directly with your superannuation fund.
If your organisation fails to pay employee superannuation by the payment due date each quarter there may be a penalty applicable with the ATO. Please refer to the ATO for specific information relevant to your circumstances.
There are no restrictions with ClickSuper on how often clients can pay their superannuation or how much they can pay - ClickSuper will accept any and all contribution payments and disburse to all valid superannuation funds within Australia, including self managed superannuation funds (SMSFs).
Important Dates
The below dates are the deadline for each period if paying superannuation quarterly.
|
Quarter |
Period |
Payment due date |
|---|---|---|
|
1 |
1 July – 30 September |
28 October |
|
2 |
1 October – 31 December |
28 January |
|
3 |
1 January – 31 March |
28 April |
|
4 |
1 April – 30 June |
28 July |
When a due date falls on a weekend or public holiday, the deadline is pushed back to the next working day.
To make payments by end of Financial Year (EOFY) superannuation contributions need to be received by the superannuation funds by June 30th. ClickSuper has a releases a notice each year around the beginning of May for all employers with a deadline to ensure their superannuation payments are paid on time. To view the most recent notice please see the following: ClickSuper Financial Year 2021
Direct debits within Australia take three business days to clear so it is important for clients to factor this in when making payment. If a superannuation contribution is uploaded to ClickSuper on the 28th October for example it will not make the deadline because payment will be delayed for three business days whilst it clears before being paid to the superfund. This would mean that superannuation would be paid in November - not by the 28th October as needed.
For more information on the payment cycle please see the following link: Direct Debit Payment Schedule
If in doubt please refer to the ATO directly for assistance.