Powered by MOMENTUM MEDIA
accountants daily logo

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

$850m in unpaid SG recovered in FY17–18

Tax

Compliance activities undertaken by the ATO in the 2017–18 financial year saw the ATO raise around $850 million in unpaid super entitlements.

By Miranda Brownlee2 minute read

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.

Advertisement
Advertisement

“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.”

 

$850m in unpaid SG recovered in FY17–18
image intro
accountantsdaily logo

Miranda Brownlee

Miranda Brownlee

AUTHOR

Miranda Brownlee is the deputy editor of SMSF Adviser, which is the leading source of news, strategy and educational content for professionals working in the SMSF sector.

Since joining the team in 2014, Miranda has been responsible for breaking some of the biggest superannuation stories in Australia, and has reported extensively on technical strategy and legislative updates.
Miranda also has broad business and financial services reporting experience, having written for titles including Investor Daily, ifa and Accountants Daily.

accountants daily logo Newsletter

Receive breaking news directly to your inbox each day.

SUBSCRIBE NOW