The super guarantee jumped to 11% on July 1st. Have you updated your payroll? 🤔
Remember, as a business owner, you must match the guarantee rate for each staff member's salary.
If you miss the mark, you'll be hit with the Super Guarantee Charge 💸 combining a shortfall, a yearly 10% interest, plus a $20 admin fee per employee every quarter.
The ATO's charge keeps everyone in check, but a misstep could be costly for your business.
So ensure your payroll is on point at 11% for all! If not, fix it ASAP and file an SCG statement with the ATO. 📂
#daviemach #super #payroll #SCG
