Hostplus assisting hospitality as ATO focuses on super payments
With the Australian Taxation Office announcing a focus on cafés and restaurants to ensure Superannuation Guarantee payments are being made on time, Hostplus is committed to ensure their employers are well prepared to avoid any unnecessary charges imposed by the ATO for late SG payment.
Under the Superannuation Guarantee Act, employers are required to make Superannuation Guarantee payments on behalf of employees at least quarterly, with Hostplus employers also having the option to contribute as frequently as monthly. The ATO has advised that in 2013/14 they will review whenever an employee says their employer has not paid their SG entitlement.
Employers that don’t meet their obligations are liable for a Superannuation Guarantee charge which is made up of the SG shortfall amounts (including any choice liability), interest at 10% per annum, and an administration fee of $20 per employee per quarter. The ATO also noted that under the new director penalty regime, penalties may extend to some directors for their company’s unpaid superannuation guarantee charge debt.
Hostplus encourages contributing employers to get in touch with the fund if they need help understanding or administering their super payments.
David Elia, Hostplus chief executive said employers wanting information about their super obligations can call its dedicated employer contact centre. “We understand that café and restaurant managers are busy people, so we do everything we can to make superannuation easy for them to administer and help them understand their legal requirements,” said Mr Elia.
CEO of Restaurant & Catering Australia, John Hart added, “When it comes to understanding your super obligations, it is reassuring to know that restaurant and catering members have the support of Hostplus at their service. Having worked with employers in hospitality for over 25 years, they’ve got the experience and expertise that make managing your superannuation obligations simple and easy, helping you to avoid any penalties from the ATO.”
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