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Almost one million workers had $ 1.1 billion of unpaid super returned to their funds last financial year, thanks to the Australian Taxation Office’s (ATO) compliance activity.
That money was recovered through a combination of employer disclosures, audits and firmer action (see image).
ATO deputy commissioner Ben Kelly said most employers do the right thing, but the ATO is cracking down on those who don’t. “Paying correct super entitlements on time is not optional, and the ATO will take action to protect employees.”
The ATO contacted more than 200,000 employers during the year with reminders and prompts, and completed over 15,000 audits. It also issued more than 22,000 legal notices, including garnishees and director penalty notices.
Improved access to super fund data and Single Touch Payroll has made non-compliance easier to detect. When Payday Super kicks in, that detection will be even faster.
The ATO offers tools to help you check your obligations at ato.gov.au/superforemployers.
#accountant #tax #superannuation
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