Australian employers can expect a graduated enforcement approach from the Australian Taxation Office (ATO) on the new choice of superannuation fund regime but will need to be fully compliant by July 1, next year.
That is the bottom line of a recent speech by the ATO’s deputy Commissioner, Superannuation, Mark Jackson who told a Public Accountants Convention that from the quarter beginning July 1, 2006, as choice of fund becomes understood and bedded down “we will move towards a business as usual approach focusing more on those who fail to meet their obligations”.
The ATO also sent a clear signal to those employers who had previously failed to meet their superannuation obligations that they were likely to be placed under particular scrutiny.
Jackson said that while the ATO would take an educative approach, this would be tempered by the need to act where it was clear employers were deliberately not complying.
“For example, we will be making calls to employers we have identified to be at risk of not complying,” he said. “This will be where past experience has demonstrated that the particular employer has had problems meeting their obligations for super guarantee and other related matters.”
Jackson made clear that initially, the ATO’s approach to choice would be educative with the compliance approach beginning from October.
