Unpaid super in ATOs sights
From October 2019 the ATO will begin contacting Australian businesses that have unpaid, or late paid, staff superannuation. With the introduction of Single Touch Payroll the ATO now has unprecedented access to real-time payments data and will use this information to target non complying businesses.
We remind all employers of their legal obligations to ensure staff supernnuation is paid in full & on-time. Harsh penalties including non deductibility of superannuation payments and holding directors personally liable for unpaid staff superannuation exist and we urge all businesses to ensure they comply in full with the new Single Touch Payroll legislation.
Single Touch Payroll is compolsary for all Australian Businesses that employ staff from 30/09/2019. Essentially, using your accounting software package, employees payroll information including salaries, PAYG withholding and super are reported to the ATO each payrun.
If you require assistance with setting up Single Touch Payroll for your business or would like us to undertake a Single Touch Payroll audit of your business to ensure compliance please contact our office.