ATO chases small business super debts from more than five years ago
The ATO is chasing small business superannuation debts dating back more than five years.
Small businesses are getting automated superannuation shortfall notices from the Australian Taxation Office. The debts date back more than five years.
The Institute of Certified Bookkeepers says members report a sharp rise in these notices. Some debts run to tens of thousands of dollars.
In several cases checked, no debt actually existed. Some businesses are being chased for amounts they already pay under formal plans.
The notices hit hard because businesses must find and check records from years ago. This work can cost bookkeepers thousands in billable hours.
The stress also weighs on owners who have tight cashflow. The ICB suspects the surge since July's payday super rollout is driven by automation.
It has called for more human review of old and large debts before notices are sent. The concern echoes fears of a repeat of the Robodebt debacle.
- More than 5 years
- Debts dating back
- Tens of thousands of dollars
- Debt amounts
- Amanda Linton
- ICB CEO
- Since July payday super rollout
- Surge timing
Why it mattersIncorrect or surprise debt notices can cripple small businesses. Investigation costs and uncertainty add up fast, even when no debt is owed.
AustraliaAustralian small businesses face unexpected financial and administrative burdens from old ATO notices; owners may incur thousands in accountant fees to dispute potentially bogus debts while managing cashflow.
✓ Claims checked against the source and corrected before publish. checked 2 h ago
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