The Australian Superannuation Guarantee legislation mandates that employers pay at least the minimum superannuation to employees, currently 11.5% of their base earnings. Understanding the requirements and the implications of underpaying super to your employees is an important part of understanding your business’s financial and tax position, as well as the obligations of the business’s directors.

How we help

At Grant Thornton, our team can assist you by:

  • advising on minimum employer obligations
  • assessing pay codes in relation to their correct superannuation treatment
  • using an automated tool developed by us to:
    • review whether past superannuation obligations have been met
    • calculate over and underpayments and apply set-offs where available
    • prepare disclosures to the ATO in respect of any shortfalls.
Elizabeth Lucas
Partner
Elizabeth Lucas

Tax Agents Disclosures

The Tax Practitioners Board maintains a register of tax agents and BAS agents. You can access and search this register here. This register includes details of the registration (and conditions if applicable) of Grant Thornton and our individual registered tax agents with whom you engage.

Your engagement letter with Grant Thornton and the Standard Terms and Conditions set out our procedures for dealing with problems or complaints. The Tax Practitioners Board also has a complaints process in relation to tax agent services as outlined on their website which can be accessed here

Tax agents have obligations to the Tax Practitioners Board and to their clients.  You also have obligations under the taxation laws and to your tax agent.  Please refer to these obligations on the TPB website or the TPB’s fact sheet "Information for Clients".

Section 45 of the Tax Agent Services (Code of Professional Conduct) requires Grant Thornton to notify you if it becomes aware of certain events which have occurred in the past 5 years. Grant Thornton is not aware of any such events.