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Showing 1 - 10 of 10 results for "SG charge"

ATO recovers $900m in unpaid super

JAMIE WILLIAMSON  |  WEDNESDAY, 20 NOV 2024
... within seven days of their wage or salary being paid. If an employer fails to pay on time, they will be liable to pay an SG charge. In September, the government outlined further details it plans to include in the payday super legislation to incentivise ...

Payday Super penalties ramped up ahead of legislation

JAMIE WILLIAMSON  |  WEDNESDAY, 18 SEP 2024
... within seven days of their wage or salary being paid. If an employer fails to pay on time, they will be liable to pay an SG charge. Currently the SG charge comprises the regular SG owing, nominal interest of 10% per annum, and an administration fee of ...

Amnesty granted to employers with unpaid SG

KANIKA SOOD  |  THURSDAY, 24 MAY 2018
... 12-month amnesty window, the Government is promising to hit back with higher penalties, to the tune of 50% on top of the SG charge they owe. The amnesty period also won't stop Australian Taxation Office (ATO) from going after employers for the historical ...

Industry funds happy SG charge retained

MARK SMITH  |  THURSDAY, 17 MAR 2016
... funds have welcomed the retention of the full Superannuation Guarantee Charge following a debate in Parliament. The SG charge is a penalty paid by employers who fail to make their quarterly SG contributions on time. It was set to be diluted under the ...

Super guarantee charge bundled by red tape repeals

DARREN SNYDER  |  FRIDAY, 13 NOV 2015
... proposed legislation has been rolled over to parliament's final sitting weeks for the year. Under the proposed changes, the SG charge - a penalty paid by employers who fail to make their quarterly SG contributions on time - will be calculated on ordinary ...

AIST opposes SG charge reductions

DARREN SNYDER  |  MONDAY, 21 SEP 2015
... be substantially greater than the SG itself." Between 2010 and 2014 the ATO has raised, on average, $640 million in SG charge liabilities (penalties with interest) for non-compliance. It has collected about half of these penalties. AIST believes that ...

Cbus opposes smaller super guarantee penalties

DARREN SNYDER  |  WEDNESDAY, 26 AUG 2015
... way of increased resources or powers to the ATO to police the spiraling problem. As a part of announced changes, the SG charge will be simplified by aligning the earnings base for calculating the SG charge (currently total salary and wages) with the ...

Super non-compliance endemic: ATO

DARREN SNYDER  |  TUESDAY, 9 JUN 2015
... "an endemic part of the superannuation system." Between 2010 and 2014 the ATO has raised, on average, $640 million in SG charge liabilities (penalties with interest) for non-compliance. It has collected about half of these penalties. Atkin added that ...

SG Bill enters parliament with strong support

ELISE BURGESS  |  WEDNESDAY, 2 NOV 2011
... their lives to adapt to longer life. So we must change our laws to move with the new rhythms of life," said Shorten. The SG charge percentage will be increased gradually with initial increments of 0.25 percentage points on July 1 2013 and July 1 2014. ...

SG payments made simpler

MICHAEL HOBBS  |  WEDNESDAY, 3 OCT 2007
... Federal Government. Under existing rules, employers who do not make their SG contribution on time become liable for the SG charge and run the risk of paying the late contribution fee twice. The SG charge includes the amount of the contribution plus interest ...
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