ATO claws back $850m in unpaid SG in FY 17-18

Compliance activities undertaken by the ATO in the 2017-18 financial year saw the ATO raise around $850 million in unpaid super entitlements.

         

 

Compliance activities undertaken by the ATO in the 2017-18 financial year saw the ATO raise around $850 million in unpaid super entitlements.

ATO deputy commissioner, superannuation, James O’Halloran said that during the 2017-18 financial year, the ATO received around 31,000 employee notifications and contacted approximately 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,” said Mr O’Halloran.

 

Miranda Brownlee
25 October 2018 
smsfadviser.com

Latest Accounting News

Jail time for GST fraud

Warning:  Very recent cases where GST fraud have landed business people in jail.       ...

Read More

Correcting GST Errors

            If a taxpayer finds a mistake made on a previous activity statement, they...

Read More

Fuel tax credit rates raised

The ATO have raised the fuel tax credit rates following an update of the December quarter consumer price...

Read More

ATO set to contact clients for overdue TPAR

The Tax Office will begin contacting clients in the building and construction industry about their overdue...

Read More

Reminder on Victoria Property Duties

          Property transfers between spouses and de facto partners in Victoria involving...

Read More

How Australia is performing.

            An up-to-date snapshot of Australia's vital statistics.   Please click on...

Read More

Global outlook summary: Down but not out

Down but not out As the global economy enters its tenth year of expansion following the global financial...

Read More

Bookkeepers remind on incoming TPRS obligations

With the taxable payments reporting system now set to cover five different industries, in-house and external...

Read More

Golden Rules for Deductions

            The Australian Taxation Office now uses sophisticated data analytics to assess a...

Read More

How’s Australia going – vital statistics?

            Please click on the following link to see all this interesting information. The...

Read More

Tax, SMEs set to be ‘political football’ in 2019 as election nears

Small and medium businesses are set for a busy year of tax promises as political parties look to sway voters...

Read More

Cap lifted on popular financing option for clients

APRA will remove its cap on interest-only loans from next year, a move which is set to open more financing...

Read More