New data has enlightened the ATO of certain businesses that may not be meeting their superannuation obligations.
Supposedly, up to 800 businesses will be targeted by the ATO and Fair Work Ombudsman.
Depending on your specific circumstances, these may or may not be relevant for you.
As a general rule, smaller businesses tend to use cash accounting because it is not as complex as non-cash accounting.
Generally, this scenario is labelled as an ‘expense payment fringe benefit’.