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PAYG Crackdown

Posted on 18 May '12 by , under General news.

The ATO recently announced a new scheme to investigate PAYG instalment amounts from SME’s after revealing it receives up to 18,000 complaints about unpaid super per year.  Almost 70% of the complaints were regarding SME’s.

The standout issue are common, often avoidable errors relating to statement preparation and not paying super on time.  All businesses that fail to pay employees their super in a timely manner risk having to pay interest on the amounts owing.