From 33m agoKey events33m agoNSW coal royalty rate increase to raise $2.7bn over four years2h agoPublic consultations to begin on bias in healthcare system2h agoCatherine King defends decision on Qatar Airways2h ago‘Quite extraordinary’: Chalmers rejects controversy over corporations donating to referendum campaigns3h agoOpposition doesn’t appear to support Qantas paying back jobkeeper3h agoAustralian economy tipped to slow amid global uncertainty3h agoSA ‘canary in the coalmine’ for health of Murray-Darling Basin4h agoThe view from Murph4h agoGood morning from Canberra4h agoWelcomeFilters BETAKey events (10)Australia (12)Qantas (9)Jim Chalmers (8)Anthony Albanese (7)Qatar Airways (6)6m ago20.41 EDTPaul Karp
But despite the tough talk, the super sector has blasted the ATO for its poor record on collecting unpaid super.
Industry Super Australia deputy chief executive, Matthew Linden, said:
A penalty regime is only as effective as the regulators willingness to enforce it, and in the case of unpaid super the ATO has strong penalties and powers at its disposal that it has shown a historical reluctance to apply.”
The ATO dismally only recovers about 15% of unpaid super in a year, and while it has shown a recent willingness to better tackle unpaid super, its compliance activity still falls well short of acting as an effective deterrent. It must better apply its powers and penalties to reduce unpaid super.”
6m ago20.41 EDT
ATO commissioner Chris Jordan gave a speech to the Tax Institute Tax Summit today, in which he called out businesses that failed to pay tax and superannuation.
He said:
I am unapologetic about our shift to exercise firmer debt collection actions when appropriate.
Most collectable debt is self-assessed. It includes GST a business has collected and received credits for but hasn’t remitted. It includes unpaid pay-as-you go withholding and superannuation guarantee charge that has a direct impact on employees.
Small businesses continue to be over-represented in our debt book, owing over $33 billion of the $50.2 billion of collectable debt. $23 billion of that is unpaid business activity statement debt. I want to make this point clear: although small business is overrepresented here, we obviously are very focused on every group in the tax system.
There are a growing number of profitable businesses who have the capacity to pay their bills but are choosing not to. Businesses appear to be de-prioritising payment of tax and super. This is concerning and is out of step with what we know, which is that the vast majority of taxpayers pay on time, and it’s unfair for them that some choose not to. This needs to stop.
We are hearing more and more from tax professionals that some businesses are rolling the dice, treating ATO liabilities like a free loan. This is not acceptable.”
7m ago20.41 EDT
Victoria’s mental health minister, Gabrielle Williams, says the state government has no plans to implement…
2023-09-05 19:37:49
Link from www.theguardian.com
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