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  • CRT Alert 004/2018

    30 January 2018

    Super guarantee integrity measures draft legislation available for comment

    Treasury has released for comment the exposure draft Bill and supporting material for the Government’s superannuation guarantee (SG) integrity package announced by the Minister for Revenue and Financial Services on 29 August 2017.

    Of particular interest to super funds, schedule 4 of the draft Bill:

    • reintroduces a previous measure to remove the requirement for super funds to lodge bi-annual lost member statements. Lost member reporting will form part of the event-based reporting changes, with a requirement to report at least twice per year
    • removes from employers the requirement to report SG contributions paid to superannuation providers
    • facilitates more regular reporting by superannuation funds.

    The draft Bill would also:

    • extend Single Touch Payroll to all employers – including those with fewer than 20 employees – from 1 July 2019
    • allow the ATO, in cases where employers fail to comply with their SG obligations, to issue directions to pay unpaid SG and undertake education courses
    • introduce criminal penalties for failure to comply with a direction to pay
    • allow the ATO to disclose more information about SG non-compliance to affected employees
    • improve the operation of the ATO’s collection and compliance measures
    • streamline employee commencement processes.

    Visit the Treasury website for full details and instructions for submitting feedback. Consultation closes on 16 February 2018.

    Next steps:

      Last modified: 30 Jan 2018QC 54465