The government has approved a superannuation guarantee (SG) amnesty to encourage and allow employers to disclose and correct any historical unpaid SG from 1 July 1992 to 31 March 2018, without incurring the administration or Part 7 penalties. To be eligible for the amnesty employers must meet and fulfil all the following criteria. They must:

  • Have not been informed that the ATO is examining or intends to examine the SG obligation for the quarter(s) your disclosure relates to
  • Disclose an SG shortfall for an employee that they haven’t already disclosed to ATO
  • Disclose for quarter(s) starting from 1 July 1992 to 31 March 2018.
  • Lodge their completed SG amnesty form with the ATO so they receive it no later than 7 September 2020.

If the ATO identifies employers that have not come forward, they will not be eligible for the benefits of the amnesty and they will be required to pay the following:

  • Super Guarantee shortfall
  • Nominal interest (10%)
  • Administration component of $20 per employee per quarter
  • Part 7 penalty of up to 200% of the Super Guarantee Charge (SGC)

Furthermore, payments of the SGC will not be tax deductible!

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