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:
- Superannuation Guarantee Amnesty
- How much to pay
- The super guarantee charge (SGC)
- Our compliance approach
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-/