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Unformatted text preview: nd, or employee. Non-compliance with other tax obligations
Employers who are non-compliant with other employer
obligations, such as income tax, PAYG withholding and
the goods and services tax, are considered more likely not
to meet their superannuation guarantee obligations and
therefore more likely to be selected for review. Other notiﬁcations
In addition to actioning complaints from employees,
the Tax Ofﬁce will follow up all instances where other
members of the community advise that an employer
is not meeting their choice of superannuation fund or
superannuation guarantee obligations. ■ did not act on their choice within two months. High-risk industries – including cash-economy
The Tax Ofﬁce is aware that employers in certain high-risk
industries, including cash-economy industries, are less
likely to make superannuation guarantee contributions. It
will target employers in these industries to ensure choice
of superannuation fund and superannuation guarantee
obligations are met.
Areas considered to be high risk vary. For the latest
information on risks the Tax Ofﬁce is targeting, refer to its
annual compliance program at www.ato.gov.au SUPERANNUATION FUNDS
The Tax Ofﬁce, ASIC, APRA and the Superannuation
Complaints Tribunal work together to conduct
investigations, collect information from the public on noncompliance and deal with problems.
APRA looks at a number of areas during a prudential
review of a superannuation fund, including some
operational matters relevant to choice of superannuation
fund: Data matching anomalies ■ eligibility requirements for members to join the fund The Tax Ofﬁce is increasing the use of data matching in its ■ operational processes to determine if employers are selection of audit projects. It reviews income tax, pay as providing complete contribution details to the fund you go (PAYG) withholding, superannuation fund reports ■ procedures for following up member complaints about and other data to identify potential non-compliance by contributions that have not been made or are late, employers. and Employers are likely to be selected for audit, for example,
where the Tax Ofﬁce identi...
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This note was uploaded on 03/25/2014 for the course FOBE 302 taught by Professor X during the One '13 term at Macquarie.
- One '13