It just made me laugh, because they obviously know what they are talking about if you know what I mean.
"Super funds ask you to pay monthly, but there is nothing they can because the legislation leaves them no way to enforce it. Which is why none of the funds notify their members if contributions have stopped or are late.
The ATO ask you to pay quarterly, but they cant penalise you in effect at all, all they do is send you a letter and try and bully you, implying I would be held personally liable And they can't pass on any information to your employee because of the Privacy Laws."
The ATO does admit, small amounts aren't worth prusing.
He shreds everthing after five years.
So I guess, unless you want to kept detailed records for 10 years knowing you are not recieving your Super Guarantee 9% and now 9.25%, you will never accumulate enough to warrent a ATO investigation and will just recieve their form letter.
And in another paragraph which I didnt really follow I think they were saying that there is so much inbuild lag time with cut off dates and extensions to cut off dates and notification/investigation time that having to keep records for five years is their "best front".
He or She summed it up perfectly
"Paying Super Guarantee Contributions is Voluntary"
