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QID: #39632
Solution for QID #39632: Hawthorn Internati onal Pty Ltd has not complied with the | StudyHelpMe
Hawthorn Internati
onal Pty Ltd has not complied with the Superannuation Guarantee Scheme for their three employees. Their superannuation guarantee percentage is 9.5%.
Employees have been provided with annual superannuation support equivalent to only 6% of their earnings base.
The employees' earnings base for quarter 2, 2018/19 was the ordinary times earnings of $56,000. The employees' total earnings including overtime for the quarter was $84,000.
Hawthorn Pty Ltd lodged a SGC Quarterly Statement on 20 February 2019.
Question:
a. For Quarter 2, calculate the following:
calculate the amount of superannuation guarantee Hawthorn would have already contributed to a complying fund.(show workings)
Calculate the employee's shortfall percentage and the shortfall dollar amount(Show workings)
Calculate Nominal interest component. Assume 365 days in the year(Show workings)
Calculate administration component(Show workings)
Calculate aggregate Superannuation Guarantee charge ($) amount (Show workings)
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