🚨Superannuation Guarantee Amnesty🚨

Employers participating in the amnesty need to apply by 7 September 2020!

On 6 March 2020, the government introduced a super guarantee (SG) amnesty (the amnesty). The amnesty allows employers to disclose and pay previously unpaid super guarantee charge (SGC), including nominal interest, they owe their employees, for quarter(s) starting from 1 July 1992 to 31 March 2018.

Eligible disclosures will not incur the administration component ($20 per employee per quarter) or Part 7 penalty.

In addition, payments of SGC made to the ATO after 24 May 2018 and before 11.59pm on 7 September 2020 will be tax deductible.

Employers who have already disclosed unpaid SGC to the ATO between 24 May 2018 and 6 March 2020 don’t need to apply or lodge again (see Disclosures of unpaid SG between 24 May 2018 and 6 March 2020).

Employers who come forward from 6 March 2020 need to apply for the amnesty by 7 September 2020.

For more information, click on the link below:
https://bit.ly/2D06YT7

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