top of page
309828967_199100215815982_5308179336467153162_n.jpg
aus-lanka-news-logo.png
  • Facebook
  • Instagram
  • X
  • Youtube
Blue LOGO Landscape transparent.png
2.png
Volvo_EX30_SA_300x250-1.jpg

ATO Recovers More Than $1.1 Billion in Unpaid Super for Australian Workers

2 minutes ago
2 min read

AusNewsLanka - News for Australians - ATO Recovers More Than $1.1 Billion in Unpaid Super for Australian Workers
At AusNewsLanka, we aim to keep the Australian community informed with timely updates.

The Australian Taxation Office (ATO) has helped recover more than $1.1 billion in unpaid superannuation for over 900,000 Australians during the past year.


New figures show the ATO raised more than $1.1 billion in Superannuation Guarantee Charge liabilities through employer engagement and compliance activities. This represents a significant increase from the $795 million recorded in the previous financial year.


ATO Deputy Commissioner Ben Kelly said the results reflected the agency's efforts to protect workers' retirement savings and ensure employers meet their legal obligations.


He said unpaid super could significantly affect employees' financial security in retirement.


The ATO also reported a strong response from employers following reminders about possible unpaid super. Employers disclosed $467 million in outstanding obligations after receiving these notices, compared with $206 million in the previous year.


Around 93 per cent of employers are meeting their superannuation obligations without ATO intervention.


However, the ATO has taken stronger action against businesses that failed to respond to its warnings, issuing almost $250 million in penalties.


The introduction of Payday Super on 1 July 2026 has also changed how employers must make superannuation contributions.


Under the new system, employers are required to pay super each payday, with contributions generally expected to reach employees' super funds within seven business days.


The ATO says more frequent payments will help workers receive their super sooner, giving their retirement savings more time to grow. It will also make it easier for employees to track contributions and help authorities identify unpaid super earlier.


The agency confirmed that the eligibility rules and superannuation guarantee rate have not changed under the new system.


Early figures suggest many employers have already moved to more frequent payments. Despite increased transaction volumes, the superannuation system has continued operating efficiently, with fewer rejected contributions reported.


Mr Kelly urged employers who have not yet adjusted to the new payment requirements to make the necessary changes as soon as possible.


The ATO says it will continue monitoring employer payments and taking action where businesses fail to meet their responsibilities.


Employers can find guidance on calculating and paying superannuation at ato.gov.au/superforemployers. Further details on the ATO's compliance results are available at ato.gov.au/sgsnapshot.


Stay tuned with Aus News Lanka – the leading platform for news for Australians.

Source : Press Released.


 
 
 

Comments


Must Read
WhatsApp Image 2024-08-09 at 7.51.47 PM.
WhatsApp Image 2024-08-09 at 7.51.47 PM.
WhatsApp Image 2024-08-09 at 7.51.47 PM.
WhatsApp Image 2024-08-09 at 7.51.47 PM.
Avertise with us Banner.jpg
Global Creatives Banner.jpg
News Website Banner.jpg
Aus lanka tickets Banner.jpg
Blue LOGO Landscape transparent.png

Aus News Lanka is your trusted source for the latest news, updates, and stories from Australia and Sri Lanka.
Stay informed with breaking news, business insights, community updates, and more.

© 2026 Aus News Lanka | All Rights Reserved.

  • Instagram
  • Facebook
  • X
  • LinkedIn
  • Youtube
  • TikTok
Screen Shot 2024-08-17 at 4.35.53 pm.png
bottom of page