Employee Superannuation
Businesses that employ staff need to ensure that their employee super for the April-June 2021 quarter is paid by Wednesday 28 July 2021.
Those Businesses that choose to pay the June quarter super prior to 30 June 2021 will be able to bring forward their tax deduction into 30 June 2021 providing payment is received by the superannuation fund bank account prior to 30 June 2021. There are different payment options available for super payments (refer below), but we recommend payment by the earliest date being 22 June 2021 unless paid via ATO clearing house.
Using the ATO super clearing house
If you intend to claim a tax deduction for super payments you’ve made to employees in 2020–21, those payments must be accepted by the ATO super clearing house on or before Wednesday 23 June 2021.
This will give the clearing house time to process and distribute the payments to your employees’ super funds before the end of the 2020–21 income year.
If you use Xero Software for Super Payments
For those business owners using Xero Software for 30 June 2021 super payments, all payment transactions will need to be approved for payment no later than 2pm Tuesday 22 June 2021.
Need Help?
Please get in touch with your usual HTA advisor if you require further assistance with the above.
