Past Event: Tuesday, December 6, 2022

Employment Solutions: Superannuation Guarantee

Are you confident your employer superannuation obligations have been met?
 
With Single Touch Payroll (STP) Phase 2 now disaggregating gross salary into far more detail than ever before, the ATO has a lot more information to review Superannuation Guarantee (SG) compliance.
 
Our recent STP Phase 2 reviews have highlighted a number of common errors in payroll configuration, impacting the accuracy of employer superannuation contributions.

The consequences when SG obligations are not met, or not met on time, can be up to 200% in non-deductible penalties, interest at 10% p.a. as well as an administrative charge. We therefore recommend employers conduct reviews (particularly post STP Phase 2 implementation) to get on top of any shortfalls needing to be rectified before any ATO audit activity. 

In this webinar we discussed how you can ensure you are meeting your SG obligations, how to detect any errors, and how to manage the remediation process where any shortfalls have occurred.

Speakers

Elizabeth Lucas
Partner

Elizabeth has extensive experience in providing employment tax advice to not-for-profit bodies, corporate clients and government organisations. She specialises in fringe benefits tax, superannuation guarantee and salary packaging arrangements. She has particular experience in assisting with remediation processes, as well as advising on optimal policies for the future.

Melissa To
Senior Manager - Specialist Tax

Melissa has significant experience across a range of employment tax issues including Superannuation Guarantee Charge (‘SGC’) reviews. She has been heavily involved in supporting clients across a number of different industry groups in the end-to-end process of rectifying Superannuation Guarantee shortfalls. She has also assisted with the development of our proprietary SGC data analytics tool.