Missed a super guarantee payment?

Missed a super guarantee payment?

5 June 2018

Subject to new law, a Superannuation Guarantee (SG) Amnesty is available to employers until 23 May 2019 – giving you the opportunity to make catch-up SG payments without penalty.

The legislation has not been passed but you can access this Amnesty now.

If you make payments under the Amnesty but the legislation is not passed:

  • you will be required to pay the administration component
  • you won’t be able to claim a deduction for the catch-up payments
  • we will remit the penalties.

Once the law is passed:

  • catch-up payments are tax-deductible
  • the penalties that normally apply to late payments will be waived
  • the administration component of the SG charge is not payable.

The Amnesty does not apply to SG payments due after 1 April 2018.

Employers who are not up-to-date with their SG payments and who don’t come forward during the Amnesty may face higher penalties in the future.

How to access the Amnesty:

Check you have correctly paid SG for all your employees.

If you haven’t, complete the form and make the catch-up payments. If you are unable to pay we will work with you to arrange a payment plan. If you can pay in full, pay directly to the fund.

Find out about:

Contact your accountant at Southern Business Solutions for any assistance in meeting your employer super obligations on 08 8186 8444.

Reference to ATO article – https://www.ato.gov.au/Newsroom/smallbusiness/Super/Missed-a-super-guarantee-payment-/

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