ATO SG crackdown
Australian employers that have failed to live up to obligations with respect to paying the superannuation guarantee have been made to pay a price by the Australian Taxation Office (ATO).
The Tax Commissioner, Michael D’Ascenzo, said that as of February, this year, the ATO had collected approximately $130 million in unpaid superannuation guarantee payments and had started legal action against 1,100 for outstanding superannuation guarantee charge debts.
He said that the ATO had increased its focus on superannuation guarantee debt and, consequently, the ATO was recovering more employee superannuation entitlements on their behalf.
“Last year we raised $350 million in [superannuation guarantee charge] and will exceed that amount this year,” he said.
AUTHOR
Mike Taylor
Recommended for you
The profession is up by almost 200 advisers for the new financial year, with August continuing the consistent weekly positive gains.
WT Financial has announced its second “Hubco” with a combined valuation of $7.8 million, while its first one has successfully incorporated and is now making its own acquisitions.
The Australian Wealth Advisors Group has entered into a joint venture with a Melbourne financial services firm to launch a wealth manager.
Remediation and litigation costs have led AMP to announce a reduced statutory net profit after tax of $98 million for the first half of 2025.
