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The superannuation guarantee amnesty ends on 7 September Posted on August 18, 2020
Employers have until 7 September to disclose previously unpaid superannuation to the ATO. 860,000 Australian businesses have been contacted by the ATO to remind them to fulfil their superannuation guarantee obligations.
Here are some details from the ATO:
- Eligible disclosures will not incur the administration component ($20 per employee per quarter) or Part 7 penalty.
- In addition, payments of SG 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.