Further scrutiny on super guarantee compliance
Recently, the ATO announced that they will be putting further resources behind ensuring employers meet their superannuation guarantee obligations.
This recent announcement comes before the start of Single Touch Payroll reporting, which is due to commence next year for employers with over 20 staff.
These additional resources include sophisticated analytical programs to predict the amount of superannuation you should be paying to employees and some contractors. We recommend that, where you are employing a substantial amount of labour hire and subcontractors, that your super obligations are subject to a full internal review.
Our firm would be delighted to assist you in making sure your super guarantee obligations are in accordance with the law. Significant penalties can apply for non-compliance.
Please contact us for further information.
Martin van der Saag
Director
T: 02 9984 7774
E: martinv@northadvisory.com.au
Norman Ruan
Accountant
T: 02 9984 7774
E: normanr@northadvisory.com.au
“The ATO’s increased focus on Super Guarantee compliance means employers must be more vigilant than ever.”
About the author
Cayle Petritsch - Director & Wealth Advisor
Cayle Petritsch, Director and Wealth Advisor, works with our existing clients who have recognised the importance of business owners making strategic financial choices not only for their company, but for their personal finances too.
Cayle saw a great opportunity to expand North Advisory’s services into SMSF/superannuation, personal wealth management, asset protection services and other crucial personal finance facets that business owners need to consider.
His approach to wealth management allows you to receive highly personalised wealth advice. Working closely with Marius, Cayle understands the unique needs of every client, from their lifestyle and business goals to their retirement plans.
Key Takeaways
ATO Oversight Is Increasing
Employers should expect closer monitoring and enforcement of Super Guarantee obligations.
Accuracy Is Just as Important as Timing
Correct calculations are critical to meeting compliance requirements.
Non-Compliance Is Costly
Penalties, interest and loss of deductions can significantly increase the financial impact.
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Frequently Asked Questions
What does increased scrutiny on Super Guarantee compliance mean?
It means the ATO is placing greater emphasis on ensuring employers are paying the correct super amounts for eligible employees, on time and in full.
Why is the ATO increasing its focus on Super Guarantee?
Super Guarantee non-compliance remains a significant issue, and the ATO aims to protect employee entitlements and improve employer compliance.
What areas are commonly reviewed by the ATO?
Common issues include late payments, incorrect calculation of ordinary time earnings, and failing to pay super for eligible employees.
What happens if an employer is found non-compliant?
Employers may be required to pay the Superannuation Guarantee Charge, which includes penalties, interest and removes tax deductibility.
How can businesses reduce the risk of non-compliance?
Using reliable payroll systems, conducting regular reviews and seeking professional advice can help ensure ongoing compliance.
Is this linked to Single Touch Payroll (STP) starting soon?
Yes — the announcement came ahead of Single Touch Payroll reporting, which was due to commence the following year for employers with more than 20 staff.
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