ATO recovers $1.1 billion in unpaid super for 900,000 workers
The ATO returned over $1.1 billion to 900,000 workers' super accounts after chasing down employers who failed to pay.
The Australian Taxation Office recovered more than $1.1 billion in unpaid superannuation over the past financial year and returned it to workers' accounts. Many bosses coughed up voluntarily after an ATO warning, disclosing $467 million in back payments.
Employers who ignored the nudge faced penalties of almost $250 million. The new Payday Super system, which started July 1, requires employers to pay super each payday rather than under the previous quarterly system.
This makes it much easier for the ATO to spot payment failures early. Deputy Commissioner Ben Kelly said the tax office will keep tracking payroll data to catch dodgy employers faster.
About nearly 93 per cent of employers already meet their super obligations without any ATO action.
- $1.1 billion
- Amount recovered
- 900,000
- Workers affected
- $467 million
- Voluntary disclosures
- almost $250 million
- Penalties raised
Why it mattersYour super is your money. Getting unpaid super back sooner means more time for it to grow before you retire.
AustraliaAustralian workers now receive super more frequently and reliably. The shift to weekly or fortnightly payments helps catch and fix payment gaps much faster than before.
✓ Claims checked against the source and corrected before publish. checked 2 d ago
