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.

         

 

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.

From the beginning of this financial year, Mr O’Halloran said the ATO has begun undertaking additional SG casework using the funding provided from the government for the SG Task Force.

“We’ve completed 537 cases and raised $22.8 million in liabilities, including $3 million in penalties,” he said.

“We’re on track to close over 2,600 cases, raising about $130 million in 2018–19.”

 

Miranda Brownlee
25 October 2018
smsfadviser.com

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Sofie Korac is an Authorised Representative (No. 400164) of Prudentia Financial Planning Pty Ltd, AFSL 544118 and a member of the Association of Financial Advisers.

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