ATO cracks down on coronavirus early super release

, which was introduced to help Aussies through the coronavirus crisis, eligible Australians were able to grab $10,000 from their super last financial year and a further $10,000 in 2020-21.

Assistant commissioner Sonia Corsini told news.com.au the “vast majority” of those who had withdrawn super were “honest and doing the right thing” and said the onus was on the applicant to ensure they meet the eligibility criteria and that the information they provide is correct.“The ATO has been undertaking compliance since the commencement of the scheme,” Ms Corsini said.

“Compliance remains one of our priorities to ensure the integrity of the tax and super systems,” she said.Fraudulent applications could lead to a $12,000 fine.The ATO has a variety of data sources to check incorrect claims and help form a response to the “most serious behaviour”, including single touch payroll, which shows in real time whether people are employed and how much they are being paid.

“We understand that some applicants may have made a genuine mistake and if this is the case we will work with them to help resolve their position,” Ms Corsini said.

Leave them alone FFS

They trying to scare people to retire the money , hey money from people anyway

This seems like farce and waste of resources. Really evidence based criteria should have been established prior to launch.

“Superannuation doesn’t belong­ to the superannuation fund managers. It belongs to the superannuation fund members... The intent for which it is used is decided by the person whose money it is” - Very well said ScoMo! 👍🏿

Another good idea, beer and bets what a super idea.

What did the ATO expect? guys i work with earning 200k jumped at the chance to withdraw their super.

Typical.. Go after the little person, who does not have the money or capacity to fight back. What sort of soulless creatures would choose to work at the ATO?

Now they want to control our OWN money. How about get fucked ATO.

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