Super Guarantee underpayment

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

Close super guarantee salary sacrifice ‘loophole’, Senate inquiry told

A Senate inquiry has been told that a ‘loophole’ which allows salary sacrifice contributions to be counted against Superannuation Guarantee (SG) obligations should be closed. The Senate has been conducting an inquiry into Super Guarantee non-payment. Several of the submissions to the inquiry have called for this, so-called, loophole to… Read More »Close super guarantee salary sacrifice ‘loophole’, Senate inquiry told

Government “acting on” SG non-compliance, forms working group

The Government says it is acting on Superannuation Guarantee non-compliance, in part by establishing a multi-agency working group to investigate the issue. A statement from Minister for Revenue and Financial Services, Kelly O’Dwyer, said that SG non-compliance is a “very serious issue.” “The Government takes Superannuation Guarantee non-compliance very seriously.”… Read More »Government “acting on” SG non-compliance, forms working group