December quarter BAS' receive an extended lodgement date so are not due until 28 February. Superannuation Guarantee Contributions (SG) do not receive the same extension and must be paid by 28 January.
Quarterly payments of the SG have now been required for many years and you will no doubt have implemented systems to deal with this. However, it is easy to overlook the payments if you are employed by your own company or trust.
It is important to note that a payment will be required by 28th January 2016, covering at least the SG requirement for the October to December 2015 period. Note that the rate remains at 9.5%.
The consequences of being late with any of the SG payments are that the payment becomes non-deductible and various other penalties arise. Accordingly, we suggest you ensure your system is in place to make the required payments and contact us if in any doubt as to the amounts or timing of the required payments.
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This Newsletter, of necessity, has dealt with matters of a technical nature in general terms only. Clients should contact us for detailed information on any of the items in the Newsletter. No responsibility for loss occasioned to any person acting or refraining from acting in reliance upon any material in this Newsletter can be accepted by any member or employee of the firm.