Shaun Farrugia profile image

Shaun Farrugia

Director at Optimised Accounting

Member Since May 2016

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Shaun is an energetic and experienced Small to Medium Sized Enterprise accountant for various businesses and medical professionals alike.

He works with passionate business people who are looking to establish and grow their businesses by working smarter and using technology where possible to achieve optimal growth, profit and taxation results.

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Taxation
Accounting
Business Consulting

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Shaun Farrugia answered this question

Is it Illegal to not pay super ?

Hi Uttam,Businesses need to pay employees super at least every three months. Whilst you could not physically pay super for 6 months it is against the law.The official time frame is as follows:July - September - Payable by 28 OctoberOctober - December - Payable by 28 JanuaryJanuary - March - Payable by 28 AprilApril - June - Payable by 28 July.The penalties for not paying super by these dates are fairly stiff. With SuperStream becoming mandatory from July 1 I'd be expecting that the ATO will start monitoring this a lot more carefully in the very near future. Hope this helps,Shaun

Taxation

Your 2 minute guide to the tax and super changes that affect you and your business.

Below is a summary of the key tax and superannuation changes that were announced in this year's federal budget. There are some wins for business – aimed to stimulate ‘Jobs & Growth’ which was this year's slogan. There are plenty of changes to superannuation – some good and some bad. There was also an unfortunate extension to the indexation freeze of Medicare rebates. The government has...

Taxation

Your 2 minute guide to the tax and super changes that affect you and your business.

Below is a summary of the key tax and superannuation changes that were announced in this year's federal budget. There are some wins for business – aimed to stimulate ‘Jobs & Growth’ which was this year's slogan. There are plenty of changes to superannuation – some good and some bad. There was also an unfortunate extension to the indexation freeze of Medicare rebates. The government has...

Shaun Farrugia answered this question

Is it Illegal to not pay super ?

Hi Uttam,Businesses need to pay employees super at least every three months. Whilst you could not physically pay super for 6 months it is against the law.The official time frame is as follows:July - September - Payable by 28 OctoberOctober - December - Payable by 28 JanuaryJanuary - March - Payable by 28 AprilApril - June - Payable by 28 July.The penalties for not paying super by these dates are fairly stiff. With SuperStream becoming mandatory from July 1 I'd be expecting that the ATO will start monitoring this a lot more carefully in the very near future. Hope this helps,Shaun

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