How to enter SGC Interest and Admin Fees

1. Make sure STP2 is enabled.  How to enable STP2

2. Enter the SGC Interest and Administration Fee into the employee Card under the Tax tab > More > SGC Interest and Admin Fees

Note

You may import SGC Interest and Admin fees in the import spreadsheet.

Example of Entry

Importing SGC Interest Charge and/or Administration Fee

You can import this information if you have a number of employees to update. 

1. Export the Priority (employees & SGC) creditors

2. Update columns BJ and/or BK with SGC Admin Fee and SGC Interest Charge.

3. Re-import the spreadsheet back into Insol6

4. Check these fields in a couple of employees has updated.

Calculating, recording and paying the ATO claim 

The Employee Superannuation Claim Detail Report lists these amounts for SGC Interest Charge and Admin Fees by employee and the report can be used to calculate the ATO's SGC claim. You can run the report from Reports & Forms > Creditors Reports > Employee Superannuation Claim Detail Report.

The total of the Interest Charge and the Admin Fees needs to be entered into the ATO preferred (Employees & SGC) creditor.

Note

The ATO creditor is to be setup as a Creditor, not an employee and thus will not be included in any STP reports.

Now run your dividend as usual.