What are the ATO currently targeting?
The ATO are targeting unpaid employer superannuation contributions, in the following industries: 1. Child care services, 2. Building and industrial cleaning, and 3. Pubs, bars and taverns.
The ATO will start with an education program to remind employers that they need to pay 9.5% of wages into an employee’s superannuation fund by 28 days after the end of the previous quarter. For example, super for the three months from 1 January to 31 March is due to be paid and received by 28 April.
After the short education program, the ATO will commence audits of employers that have not contributed to superannuation for their employees in July 2015.
It is important to note that directors of companies that fail to pay super, may be personally liable for any unpaid superannuation and superannuation guarantee charges.
Please contact the team at Accumul8 Accountants if you would like help getting your superannuation obligations up to date.