Blog

Employers be aware!

The ATO is checking to ensure Employers are meeting their Super Guarantee Obligations

 The ATO has implemented measures as follows:

• The ATO may contact an employer if they are not meeting their SG obligations.
• Employers will be advised they need to lodge Superannuation Guarantee Charge (SGC) statements for the relevant periods. Regardless of whether the Employer has since paid the late or unpaid SG contributions to their employee’s fund, they still need to lodge an SGC statement and pay the SGC.
• With Superannuation funds now providing information to the ATO when they receive SG contributions for employees, the ATO is using this information, along with Single Touch Payroll (STP) reporting to identify employers who have paid some or all of their super contributions late or haven’t paid the correct amount by the due dates for their employees.

 Director Penalty Notices for Superannuation

• If a Company fails to pay Superannuation and also fails to lodge Superannuation Guarantee Charge Statements with the ATO within the required period, the Directors of the Company are automatically personally liable for unpaid superannuation.
• The ATO in these circumstances can issue a Director Penalty Notice to recover unpaid superannuation from the Directors and take recovery action to recover the superannuation owed from the Director(s). This type of Director Penalty Notice is commonly referred to as a Lockdown Director Penalty Notice.

Act now, and make sure your payments are in order and up to date.

Contact Blackburn Accounting if you have any questions or concerns, we are accredited accountants.