Completing your Superannuation guarantee late payment ...

1 Instructions and form for employers Completing your Superannuation guarantee late payment offset election WHO SHOULD COMPLETE THIS ELECTION? You should complete this election if you are an employer who: For more information about super guarantee or the n paid super contributions to a complying super fund or late payment offset, refer to: retirement savings account or the approved clearing n Super What employers need to know (NAT 71038). house after the cut-off date for any of your employees and n Completing your Superannuation guarantee charge before an original Superannuation guarantee charge (SGC) statement quarterly (NAT 9600).

2 Assessment for the period is made, and n our website at or phone us on 13 10 20. n has not previously used these late contributions to offset your super guarantee charge payable for the relevant employee To obtain a copy of these publications and additional copies and quarter. of these instructions and the election form: n visit our website at or n phone us on 1300 720 092. Do not use this form unless an SGC assessment has previously been raised for this quarter. BEFORE YOU COMPLETE THIS ELECTION. Before you complete this election, check that you are eligible for the late payment offset. Generally, late payments of super contributions are eligible for the offset if they have been paid: n to a complying super fund or retirement savings account provider or the approved clearing house after the cut-off date for payment n for the same employee for whom the offset is claimed, and n before an original SGC assessment is made for the quarter.

3 The flow chart on page 2 will help you work out if you are eligible. NAT FLOWCHART. Have you Has a super Did you Is it less than Have you You may use this made a late guarantee make the late four years since already used payment to offset payment Yes charge Yes payment before Yes the original Yes this late Yes the super guarantee of super (SGC) an original Superannuation payment as charge for this contributions assessment Superannuation guarantee a payment for a period. However, to a fund been made guarantee assessment later period? you will need to for this for this charge was made?* amend the later employee? period assessment for period to remove for this the period was the amount you employee?

4 Made? elect to use as an offset and you may be liable for a super No No No No No guarantee charge for the later period. You are not Do you You are not Have you You can make eligible to want to eligible for a late previously another late claim a late elect to payment offset made a late payment election payment apply for this period. payment but only for any Yes offset for this the late election for this amount of your employee for payment employee for late contribution this period. offset to a this period? not covered by a quarterly previous election. period? Quarterly You need to No complete a Superannuation Do you want You need to guarantee to make a complete the charge late payment Yes late payment statement election for this offset election quarterly employee?

5 (NAT 14899). (NAT 9599), including the questions No about the late payment offset. You have up to four years from the date the original Superannuation charge assessment was made to make a late payment election. For more information: n refer to our website at n phone us on 13 10 20. 2 Completing your Superannuation guarantee late payment OFFSET ELECTION. HOW TO COMPLETE. THIS ELECTION. SECTION A: ELECTION DETAILS Question 5. Trading name (if applicable). Question 1 Provide the name you trade under, or that is known by your For the period ended suppliers or customers. It may be different to your legal Provide the period end date that this late payment offset business name.

6 Election applies to. Question 6. If you are making an election for more than one period, Postal address you will need a separate form for each period. Provide your current postal address for service of super guarantee notices. Quarter Quarterly end dates Question 7. 1 30 September Street address Provide the address where the business is located. Do not 2 31 December provide a post office box. 3 31 March Question 8. 4 30 June Authorised contact Provide the name and phone number of an authorised person If you are reporting for an annual period prior to 1 July 2003, who we can quickly contact if we need further information.

7 You need to use 30 June of the year being reported as your end date. SECTION C: EMPLOYEE DETAILS. SECTION B: your DETAILS. If there is not enough room to report all your Question 2 employees, photocopy section C and attach the additional Tax file number (TFN) pages to your completed election. Provide your business TFN. If you are an income tax exempt organisation and you don't Question 9. have a TFN, write EXEMPT'. Name Provide your employee's full name. We are authorised under the Taxation Administration Act 1953 to request your TFN. You don't have to provide If your employee has since changed names, show their your TFN to us.

8 However, if you do, it will help us identify current name. you correctly and process your election quickly. Question 10. Question 3. TFN. Australian business number (ABN) Provide your employee's TFN. Provide your ABN. This is the ABN you use on your employees'. payment summaries . Question 11. Date of birth Question 4. Provide your employee's date of birth. Full legal business name Provide your full legal business name. Question 12. If this form is completed on behalf of a registered company, Postal address write the name registered with the Australian Securities and Provide your employee's current (or last known) postal Investments Commission.

9 Otherwise, write the name of the address. If you don't know their postal address, use their partnership, trust estate or individual. residential address. Completing your Superannuation guarantee late payment OFFSET ELECTION 3. how to complete this election Question 13 SECTION E: DECLARATION. Individual late payment election amount You must complete the declaration that applies to you, either as Provide the late contribution amount to be offset against the the employer or as the agent acting on the employer's behalf. super guarantee shortfall and nominal interest for this employee. If the election has been completed by you, the declaration and the first page of any attachments must be signed by: Generally, for late payments of super contributions n a senior partner of a partnership to be eligible for the offset they must have been paid: n a trustee or public officer of a trust estate n to a complying super fund, a retirement savings account n a public officer of a company, or provider, or the approved clearing house after the n the proprietor of a sole trader business.

10 Cut off date for payment If the election has been completed by a tax agent, then the n for the same employee for which the offset is claimed, and agent must complete this declaration. n before an original SGC assessment is made for the period. If the declaration is not signed, this form is considered to be incomplete and will be returned to you. This amount cannot be greater than the late contributions you paid for your employee. Send your completed election to us at: Question 14 Australian Taxation Office Total election amount PO Box 3578. Provide the total election amount you want to offset. ALBURY NSW 2640. Add up the amounts you recorded for question 13 and write the total.