New Super Amnesty is Here!

New super guarantee amnesty

On 6 March 2020, the government introduced a superannuation guarantee (‘SG’) amnesty.
This amnesty allows employers to disclose and pay previously unpaid super guarantee charge (‘SGC’), including nominal interest, that they owe their employees, for quarter(s) starting from 1 July 1992 to 31 March 2018, without incurring the administration component ($20 per employee per quarter) or Part 7 (double SGC) penalty.
In addition, payments of SGC made to the ATO after 24 May 2018 and before 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.
Employers who come forward from 6 March 2020 need to apply for the amnesty.
The ATO will continue to conduct reviews and audits to identify employers not paying their employees SG.

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