Institute of Certified Bookkeepers

The ATO Deputy Commissioner for Super recently reported on the extent of their existing compliance activity around Super Guarantee by employers

we remain active in this space and have made some productive inroads to improve the actions we can take to ensure workers get their SG entitlements. As a result of our compliance activities, from 1 July 2010 to 30 June 2018 we transferred over $2.6 billion to employees’ super funds on behalf of more than 1.8 million employees,

Indeed, in 2017–18 we received some 31,000 employee notifications and contacted some 24,000 employers. We also completed 19,000 employee-generated cases. Additionally, we initiated a further 13,000 SG audits and reviews based on our risk modelling. Total liabilities raised by this casework were approximately $850 million.

From 1 July 2018 we’ve begun undertaking additional SG casework using the funding provided from the government for the SG Task Force. We’ve completed 537 cases and raised $22.8 million in liabilities, including $3 million in penalties. Sixty-five per cent of cases completed originated in NSW and Victoria. We’re on track to close over 2,600 cases, raising about $130 million in 2018–19.

There is no doubt compliance detection will increase with Single Touch Payroll reporting and the increasing regularity of Super Funds reporting what has actually been paid.

The Government will soon see what is actually going on.  They will be chasing employers who dont report or dont pay.

Impact for Bookkeepers and Business

ICB strongly recommends all employers stay on a path of good super systems or if you arent there now, we strongly recommend you undertake a review of the past, quantify how much is outstanding and commence a program of bringing your payments up to date.  Do it yourself before the system discovers you and more extensive penalties apply.

ICB member refer to resources for Business Information sheets and help material

  • 26 October 2018