Paying super is an important part of being an employer and most employers pay the correct amount that their employees are entitled to, by the due date. However, the Australian Taxation Office (ATO) advises that there are some employers, particularly within service industries, that either don’t pay on time or don’t pay the right amount.
Single Touch Payroll and regular reporting of employer contributions by super funds, gives the ATO access to near real time data and provides the ATO and employees (through ATO online services) greater visibility of employers that have paid late or underpaid their employee’s superannuation guarantee (SG) contributions.
To ensure employees are receiving their full SG entitlements, the ATO has stated that they will actively use this data to contact employers who are not doing the right thing, to prevent and correct late or under-paid SG contributions.
To help you stay on top of your super obligations, visit the ATO website and run a quick check of your super obligations to make sure you’ve got everything sorted. The ATO has tools and calculators to help you get it right. You can also contact the ATO for assistance on 13 10 20.