Super Guarantee Compliance: A Key Focus for ATO Debt Collection (Sep 24 Tax Update)

Relevant For:

Business owners, financial managers and HR professionals.

Key Points:

• ATO targets superannuation guarantee, PAYG and GST debts.
• Ensure compulsory superannuation contributions are timely and paid to the correct funds.
• Missed payments require prompt action to minimise penalties.
• SG charge exceeds regular contributions and is non-deductible; payable to ATO, not the super fund.
• Director penalty notices may apply if SG charges remain unpaid.

Full Article:

The Australian Taxation Office (ATO) has recently highlighted its focus on business debt collection, particularly concerning superannuation guarantee (SG), pay as you go (PAYG) withholding, and GST obligations. This serves as a crucial reminder for businesses to ensure they remain compliant with these requirements.

The ATO's latest statistics reveal that while 94% of employers meet their SG obligations without needing intervention, over $1 billion in SG charge liabilities were still raised in the 2022–2023 financial year.

To avoid these additional costs, businesses must