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12 Mar 07 Superannuation guarantee compliance study

In a broadcast message sent to 3775 tax agents last week, the ATO advised that it is undertaking a compliance study as part of its increased focus on employer compliance with superannuation guarantee and choice of fund obligations and to enable it to help employers meet these obligations.

From late February, with the assistance of an external contractor (the Social Research Centre), the ATO commenced phoning businesses, and in some cases their tax agents, to confirm their eligibility for participation in the study and to obtain a current mailing address and contact details.

In April, businesses and tax agents who oversee the superannuation affairs of businesses will be asked to review whether or not they have met their superannuation guarantee and choice of fund obligations. They will also be asked to answer questions that will help us to improve our understanding of why employers do not meet these obligations.

The ATO says that it is encouraging all employers to review whether or not they have met their superannuation guarantee and choice of fund obligations. If not, they may need to lodge a Superannuation guarantee charge statement - quarterly (NAT 9599) and pay the superannuation guarantee charge. The ATO says that this will minimise the employer's exposure to penalties that may otherwise apply.

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