ATO highlights of 2023–24 year
Highlights of super guarantee (SG) annual employer compliance results for 2023–24.
The ATO’s report underscores their commitment to collecting employees’ superannuation entitlements by ensuring employers meet their SG obligations. It also highlights the significant impact of compliance activities and employer engagement in recovering unpaid superannuation for employees.
Highlights of the 2023–24 financial year are:
- Employers are paying more than 92.4% of the SG they are required to, without ATO intervention
- A total of $1.91 billion in superannuation guarantee charge (SGC) liabilities was collected through ATO compliance, proactive reminders and prompts, and employer voluntary disclosures of unpaid SG, for over 1.13 million employees
- $932 million was distributed to employee funds and individuals from liabilities raised for current and prior financial years, for 797,000 employees
- Approximately 23,600 SG cases were finalised, resulting in $659 million SGC liabilities and $300 million in Part 7 penalties being raised
- 167,000 employers received proactive ATO actions including reminders and prompts to check their obligations, raising $240 million in SGC liabilities:
- 100,000 reminders to employers
- 67,000 prompts to employers
- Employers made voluntary disclosures of unpaid super, resulting in around $539 million in SGC liabilities being raised.
It is best to take swift action on an outstanding tax debt
For those unable to pay their full obligations, payment plans can be set up through the ATO’s online services. It is important to note that taxpayers with debts under $200,000 can request these arrangements online through their tax agent or independently.
In cases of genuine financial hardship, there are additional options available, including deferred payments and interest remissions. However, address any outstanding issues proactively to avoid further penalties.
The ATO has also begun a phone campaign to recover debts
Remain cautious and never disclose personal information, such as tax file numbers or credit card details, over the phone. Always request a call reference and independently contact the ATO using a publicly listed number for verification.
If you have any concerns regarding the legitimacy of ATO communications, contact Allan Hall Business Advisors. Our team is here to help you navigate these changes and ensure that your business remains compliant with the latest tax obligations.
For more information, or if you have concerns about unpaid tax, please contact Allan Hall Business Advisors.
CONTACT ALLAN HALL BUSINESS ADVISORS