Further scrutiny on super guarantee compliance
Posted by Northadvisory on September 5, 2017
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.