The Australian Taxation Office (ATO) is using its Single Touch Payroll (STP) reporting system to enhance its monitoring, identification, and auditing of employers who are failing to pay their employees’ superannuation contributions.

STP is an electronic reporting system that allows employers to report salary and wage information, payroll tax, and superannuation contributions to the ATO. The ATO uses this information to keep track of employers who are failing to meet their superannuation obligations to their employees.

As a result, the ATO is now able to more effectively target those employers who have either not paid their employees’ superannuation contributions on time or not paid them at all. This is being achieved by using the STP data to identify patterns of non-compliance and then using that information to issue Superannuation Guarantee Charge (SGC) audit notices and statements.

By using STP, the ATO is now able to monitor and enforce SGC compliance more efficiently and effectively, and we have noticed a recent increase in SGC notices and audit activity from the ATO.

Superannuation Reporting & Payment Deadlines

Now, more than ever, it’s important that you meet the superannuation reporting and payment deadlines each quarter, which are:

• 28 January
• 28 April
• 28 July
• 28 October

How We Can Help

This is no longer an area you can ignore, and if you are experiencing difficulties in meeting your employees’ superannuation commitments, it’s important that you contact your business advisor. There may be a simple solution, or it may require a more in-depth analysis and management of your business’s cashflow requirements. Either way, Lambourne Partners is here to assist you and the needs of your business.

For assistance, please get in touch with us below or call us on 02 4969 6600.