Super Guarantee underpayment

Government officially drops Super Guarantee penalty changes

The Government has officially dropped its proposed winding-back of penalties for underpayment and late payment of Superannuation Guarantee, while announcing other measures to tackle SG non-compliance. The Government had intended to “simplify” and make the SG charge and penalties “more proportionate” to non-compliance. This included changing the calculation of the… Read More »Government officially drops Super Guarantee penalty changes

ATO rejects IGT recommendation for random Super Guarantee audits

The ATO has rejected, again, a recommendation by the Inspector-General of Taxation to adopt random Superannuation Guarantee compliance audits. The Review Into The ATO’s Employer Obligations Compliance Activities report says: The IGT recommends the ATO seeks further means of ensuring superannuation entitlements are paid promptly including the use of deterrents,… Read More »ATO rejects IGT recommendation for random Super Guarantee audits

ATO needs more funding to audit businesses not paying Super Guarantee: ASFA

The ATO should receive more funding in order to better audit businesses for unpaid Superannuation Guarantee, says the Association of Superannuation Funds of Australia (ASFA). ASFA CEO Dr Martin Fahy said that recent reports showed there was “substantial” non-payment of, what should be, compulsory superannuation entitlements. “Non-payment of super is… Read More »ATO needs more funding to audit businesses not paying Super Guarantee: ASFA