ATO compliance activity only helping 1% of employees underpaid super

99% of the employees being short-changed on superannuation by their employers aren’t being helped by the ATO, claims Industry Super Australia. Analysis by Industry Super Australia estimates that 2.85 million workers are being ripped off to the tune of $6 billion in superannuation a year by “unscrupulous employers”. Though the ATO has a lower estimate… Continue reading ATO compliance activity only helping 1% of employees underpaid super

ATO crack down on super non-payment driven by “unprecedented” data

The ATO plans to use the data it is gathering through Single Touch Payroll to crack down on the non-payment of Super Guarantee. As a result of the introduction of Single Touch Payroll, the ATO now has much more – and more timely – data about the transactions of employers, including for superannuation, allowing the… Continue reading ATO crack down on super non-payment driven by “unprecedented” data

Superannuation should be paid on pay day: Industry Super Australia

Industry Super Australia has launched a new campaign against unpaid super, calling for super to be paid at the same time as salary and wages. Industry Super Australia (ISA) says that workers might think their superannuation has been paid because it is shown on their payslip. But employers are only required to report the amount… Continue reading Superannuation should be paid on pay day: Industry Super Australia

There is a “simple fix” to unpaid super political parties could adopt

Industry Super Australia says changing how often Superannuation Guarantee is paid is a “simple fix” the major political parties could adopt in the election campaign to help fix unpaid and underpaid superannuation. New research by Industry Super Australia has found that the underpayment of superannuation entitlements over years has caused the savings gap between employers… Continue reading There is a “simple fix” to unpaid super political parties could adopt

Industry Super Australia launches unpaid super campaign

Industry Super Australia has launched a new advertising campaign aimed at unpaid superannuation. The organisation says the purpose of the campaign – Unpaid Super: Getting Worse While Nothing is Done – is to raise awareness of the impact that unpaid super has on millions of industry fund members, and to call for change. Analysis by… Continue reading Industry Super Australia launches unpaid super campaign

Employers could be sent to jail for not paying superannuation

Employers who don’t pay Superannuation Guarantee could be sent to jail under changes to the law in a Bill passed through the Parliament. The Treasury Laws Amendment (2018 Measures No. 4) Bill 2018 has passed both houses of Parliament and awaits Royal Assent. It allows for the ATO to direct employers to pay Super Guarantee,… Continue reading Employers could be sent to jail for not paying superannuation

Bill to increase Super Guarantee underpayment penalties passes House

A Bill to increase the penalties for employers not complying with their Super Guarantee obligations could become law by the end of the week. The Treasury Laws Amendment (2018 Measures No. 4) Bill 2018, which increases penalties for SG non-compliance to include potential jail sentences, among other changes, has passed the House of Representatives. The… Continue reading Bill to increase Super Guarantee underpayment penalties passes House

Workers with unpaid super “balloons” to almost 3 million

Industry Super Australia has told a Senate committee that more action is needed to address unpaid superannuation, after the number of workers impacted “balloons” to almost 3 million. An analysis of the most recent ATO data, by Industry Super Australia, finds that 2.98 million workers have been “short-changed” on their Superannuation Guarantee entitlements in 2015/16… Continue reading Workers with unpaid super “balloons” to almost 3 million

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 SG Charge from total salary… Continue reading Government officially drops Super Guarantee penalty changes

Small employers to have to use Single Touch Payroll from 1 July 2019

The Government has announced that from 1 July 2019 small employers will have to be using Single Touch Payroll. Single Touch Payroll will involve reporting salary and wages, PAYG withholding and superannuation guarantee information to the ATO as part of the payroll process. This was to apply to large employers (20 or more employees) from… Continue reading Small employers to have to use Single Touch Payroll from 1 July 2019