Compliance program 2011-12

Superannuation

People can advise us if their employer has not been making superannuation guarantee contributions on their behalf. We investigate all of these complaints. Last year we received over 16,300 employee complaints and expect this year to investigate approximately 17,000 employee complaints.

The establishment and operation of illegal early-release schemes, even on a small scale, undermines confidence in Australia's superannuation system.

There are strict rules, with limited exceptions, for preserving superannuation savings until retirement. Schemes offering early access to superannuation, often targeting particular groups within the community, are illegal and attract significant penalties for promoters and individuals.

As illegal early-release schemes are identified we will warn the community about them through media releases, alerts and other communication activities. We have put in place processes that stop registrations of suspect self-managed superannuation funds and tools that allow larger funds to check on the membership of self-managed superannuation funds, before rolling over funds, thereby decreasing the opportunity for illegal early-release. We will also audit both promoters and participants of schemes. Last year we referred four cases for prosecution and will refer future cases where appropriate.

Superannuation contribution caps limit the amount of contributions qualifying for concessional tax treatment. We will review contributions to identify cases where the caps have been exceeded and deal with them appropriately.

Sections within Individuals

• Employees and contractors
• Work-related expenses
• Overseas income
• Pre-filling tax returns
• Information matching
• Refund fraud
• Split loans
• Referrals to the Tax Practitioners Board
• Superannuation
• Executives, directors and other highly paid individuals