• You have not paid any super before the cut-off date but you paid some late

    Example

    Karen Atkins is an employee of Cost Pty Ltd during the quarter ended 30 September 2009.

    Cost Pty Ltd paid a $792 super guarantee contribution to Karen's nominated fund on 1 November 2009, after the cut-off date for the quarter. In this example, Cost Pty Ltd has chosen to have the late payment applied as the maximum allowable offset.

    N/A – not applicable – means this example does not require this information.

    Step 1 (A): Employee quarterly information

    Q1 How much super have you paid for this employee for the quarter (include on time and late payments)?

    Label A on the worksheet

    Q2 How much super did you pay by the cut-off date for this employee for the quarter?

    Label B on the worksheet

    Q3 How much super did you pay by the cut-off date to the employee's chosen fund for the quarter?

    Label C on the worksheet

    Do not include any contributions you made to the employee's chosen fund where you charged your employee a direct cost for making contributions to the fund.

    Make sure you include any contributions you made within two months of your employee giving you details of their chosen fund, even if you paid them to a fund other than the employee's chosen fund.

    Q4 What is the employee's total salary or wages for the quarter, limited to the maximum contribution base?

    Label D on the worksheet

    Q5 What is the employee's earnings base for the quarter, limited to the maximum contribution base?

    Label E on the worksheet

    Step 1 (B): Simple calculation of employee super guarantee shortfall

    As Cost Pty Ltd did not pay any super contributions for Karen before the cut-off date, the super guarantee shortfall is 9.5% of Karen's total salary and wages (D). There is no super choice liability for Karen so they do not need to complete step 2.

    Step 2: Employee preparation calculations

    Since B is zero, the percentage of super guarantee contribution paid by the cut-off date (G) is 0%. Also B = C, so go on to step 3.

    Step 3: Employee super guarantee shortfall calculations

    Work out the employee's super guarantee shortfall (excluding choice).

    The employee's super guarantee shortfall

    Since B = C there is no choice liability for this employee, I is zero

    Label I on the worksheet

    Employee's subtotal (H + I)

    Label J on the worksheet

    Step 4: Do you want to claim a late payment offset for this employee?

    Q1 Have you paid and had accepted any money into your employee's fund after the cut-off date for the quarter?

    Yes - have paid and accepted money after the cut-off date

    Q2 Has an original SGC assessment been made by the ATO for this period?

    No go to question 4.

    Q3 Was the late payment for this employee received by the fund before the original SGC assessment was made for this period?

    Yes No you cannot make a late payment election. Go to step 6.

    Q4 Do you want to make a late payment election for this employee?

    Yes - want to make a late payment election

    Step 5: Employee late payment offset election amount

    What is the total of late payments?

    Total of late payments

    Cost Pty Ltd has chosen to have the late payment applied as the maximum allowable offset available. The late payment offset election amount for Karen is $792.

    The amount at question 20 (label N) will not offset an amount greater than the employee's subtotal from step 3 (label J).

    Write this amount at question 20 (label N) of the statement for Karen.

    Employee's late payment offset election amount

    Employee's late payment offset election amount

    Step 6: Transferring employee information

    Transfer the amounts at labels H, I, J and N (if needed) to section C on the statement for this employee. If label I equals 0 for this employee, answer 'Yes' at question 16 of the statement, otherwise answer 'No'.

    You will need to include your answers from step 4 at question 19 of the statement.

    End of example
    Last modified: 13 Sep 2016QC 17278