Superannuation can very quickly become a costly issue if you have not been meeting your obligations. We have experienced numerous situations where businesses have inadvertently not been meeting their obligations and this was only discovered during an audit by the ATO. In the two of these situations the amount of superannuation that was payable was in excess of $1m.

In addition to the ATO undertaking routine audits they also investigate 100% of employee complaints. Where a review by the ATO results in a significant payment of superannuation which cannot be met by the company then the ATO can issue notices to the Directors for the amount payable. Given the significant financial risks involved with not getting your employees' superannuation contributions right its considered best practice to undertake regular health checks of your systems and processes. The diagram below outlines the process involved in undertaking a technical review of your superannuation guarantee obligations.