Archive for month: September, 2015

Each year, the ATO identifies industries where employers are at a greater risk of not making super contributions for their eligible employees.

This year its focus is on:

1. child care services;
2. pubs, bars and taverns; and
3. industrial cleaning industries.

Furthermore, the ATO stated that, in early 2015, it will write directly to employers in these industries to remind them of their super obligations.

It has also advised that it will be undertaking super obligation audits of these industries from July 2015.

The ATO reminds all taxpayers that they must:

• contribute at a rate of 9.5%; make contributions by the quarterly cutoff dates (i.e., 28 October, 28 January, 28 April, 28 July);
• pay super for eligible contractors, even if the contractor quotes an Australian Business Number (ABN); and
• give an employee’s tax file number (TFN) to their super fund within 14 days of receiving it.

The Government has announced that it will simplify tax and superannuation reporting obligations through ‘Single Touch Payroll’. Under Single Touch Payroll, employers’ accounting software will automatically report payroll information to the ATO when employees are paid.

This will eliminate the need for employers to report employee-related Pay As You Go Withholding (PAYGW) in their activity statements throughout the year, and employee payment summaries at the end of the year. The Government stated that Single Touch Payroll will be available from July 2016, and transition arrangements will be the subject of consultation with the business community early in 2015.