Jackson Basile
 

Address:
Unit 3
118-122 Railway Ave
Ringwood East, Vic. 3135

Postal address:
P.O.Box 44
Ringwood East, Vic. 3135

Phone:
03 9870 6866

Fax:
03 9879 2568

Email us

Latest Accounting News Service
Hot Issues
15,000 tip-offs as ATO black economy hotline rings hot
What happens when interest rates hit the floor?
Director Penalty Notices (DPN)
Synchronised global economic slowdown
STP to be increasingly monitored
6 new accounting related videos
GDP by country since 1800
Information needed to be the BBQ expert.
Employee or independent contractor: What happens when it goes wrong?
Single Touch Payroll (STP) reporting irregularities: ATO contacting businesses
Employee entitlements, ‘wage theft’ and Fair Work: Why it’s time to be proactive
How's Australia really doing - the real figures?
Pension deeming rates cut from 1 July 2019
Audit warning sounded as ATO clamps down on dodgy claims
New ATO data-matching program – overseas movement data and HELP debt
ATO black economy strike force heads to Brisbane
Access to more resources and tools than most websites.
Tax Return Mistakes
SMSF advice appetite strong, says ASIC
Taxpayers confused by Scott Morrison’s $1,080 tax refund
Common STP set-up mistakes - ATO
Proposal to hold directors liable for GST set to pierce corporate veil
September 2019 - vital statistics for Australia
Tax Commissioner wants to turn black economy to ‘lighter shade of grey’
Changes to the Private Health Insurance Statement
Up to 9 in 10 ‘other’ expenses adjusted as ATO reveals dodgy claims
Downsizer Super Contribution
Tax payers to receive beefed up tax returns.
10 top global corporations since 1998
Catch-up Contributions
Life Insurance
Articles archive
Quarter 3 July - September 2019
Quarter 2 April - June 2019
Quarter 1 January - March 2019
Quarter 4 October - December 2018
Quarter 3 July - September 2018
Quarter 2 April - June 2018
Quarter 1 January - March 2018
Quarter 4 October - December 2017
Quarter 3 July - September 2017
Quarter 2 April - June 2017
Quarter 1 January - March 2017
Quarter 4 October - December 2016
Quarter 3 July - September 2016
Quarter 2 April - June 2016
Quarter 1 January - March 2016
Quarter 4 October - December 2015
Quarter 3 July - September 2015
Quarter 2 April - June 2015
Quarter 1 January - March 2015
Quarter 4 October - December 2014
Quarter 3 July - September 2014
Quarter 2 April - June 2014
Quarter 1 January - March 2014
Quarter 4 October - December 2013
Quarter 3 July - September 2013
Quarter 2 April - June 2013
Quarter 1 January - March 2013
Quarter 4 October - December 2012
Quarter 3 July - September 2012
Quarter 2 April - June 2012
Quarter 1 January - March 2012
Quarter 4 October - December 2011
Quarter 3 July - September 2011
Quarter 2 April - June 2011
Quarter 1 January - March 2011
Quarter 4 October - December 2010
Quarter 3 July - September 2010
Quarter 2 April - June 2010
Quarter 1 January - March 2010
Quarter 4 October - December 2009
Quarter 3 July - September 2009
Quarter 2 April - June 2009
Quarter 1 January - March 2009
Quarter 4 October - December 2008
Quarter 3 July - September 2008
Quarter 2 April - June 2008
Quarter 1 January - March 2008
Quarter 2 April - June 2007
Quarter 2 April - June 2006
Quarter 2 April - June 2005
Quarter 2 of 2019
Articles
ATO clears up FAQs about Single Touch Payroll
GST reporting: common errors and how to correct them
LRBAs, guarantees in need of review after property market falls
Victorian Property Valuation Cycle
Australia - toward EOFY 2019
Australian Taxation Office (ATO) expects 200,000 to miss out on refunds by failing to lodge
Biggest personal tax cuts in a decade a priority for Government
Government rules out GST changes following ATO report
ATO issues warning after ‘unprecedented’ spike in impersonation scams
Crypto transactions in ATO sights with new data-matching program
Government to establish $2 billion fund for small business lending
Small business corporate tax rates Bill is now law
ATO to double rental deduction audits to 4,500
ATO set to issue excess super contribution determinations
How's Australia going as we approach the election?
Single Touch Payroll (STP) is compulsory for all small businesses.
Federal Budget 2019 - Overview
How the 2019 Federal Budget affects you
FBT Reminder – Odometer Reading
‘Big awareness push’ underway as STP deadline approaches
GST collection on overseas goods at 300% of forecasts
The problem with getting to 53 years of age.
Lost Beneficiaries
New quarterly STP reporting method for closely held payees revealed
Some Australian figures to help on Budget night.
Employers hit with rolling SG audits as ATO toughens stance
Employers hit with rolling SG audits as ATO toughens stance

Employers are increasingly being subjected to a rolling series of audits by the ATO where they slip behind on their SG obligations as the Tax Office now taking a harder line on non-compliance, warns a technical expert.



       


 


Insyt chief executive Darren Wynen said the focus by the federal government on SG non-compliance has seen the ATO taking a much tougher approach towards non-compliant employers.


“[In the past], when the ATO audited an employer to check whether they had SG obligations, it would almost be like a self-correction so their view was that if the employer paid it and fixed it up then it would be okay. Now when they audit employers, they’re applying the full suite of penalties,” said Mr Wynen.


Mr Wynen said he has also seen some situations recently where the employer has been subjected to an audit and in the finalisation letter there has been a requirement for them to provide evidence that they have also met their obligations for the latest quarter.


“If that evidence is not provided [to the ATO], then they will effectively commence another audit,” he warned.


“They may have had a year's worth audited for let’s say the 2018 year and if they then haven’t complied with the obligations for the December quarter then the ATO will open up the file and audit their obligations from July 2018 through to December 2018.”


This means that an employer who is continuously not meeting their obligations could be subject to a continuous or rolling series of ATO audits to make sure they’re complying with their super guarantee obligations, he warned.


“Businesses need to check they are satisfying their SG obligation because it will be a whole lot of cost down the track in the event they are audited or subject to a review by the ATO,” he said.


“Businesses are having to spend a lot of money challenging these assessments – particularly if they’ve paid it – to try and get these penalties and so forth remitted.”


While the ATO confirmed that it will waive Part 7 penalties for clients who voluntarily disclose historical underpayment of the superannuation guarantee, despite the proposed amnesty measure not yet being law, employers must still pay the interest amount and the $20 administration component per employee per quarter, in addition to the SG they owe.


“In relation to SG, the ATO only has the discretion to remit the Part 7 penalty. With regard to those taxpayers who made a voluntary disclosure in anticipation of the proposed amnesty, we will remit the Part 7 penalty in full,” the ATO previously told Accountants Daily.


 


Miranda Brownlee
28 March 2019
accountantsdaily.com.au




3rd-April-2019