Super Guarantee Amnesty Update

Time runs out today for employers to apply for the Superannuation Guarantee (SG) amnesty to catch up on past unpaid super without incurring a penalty.

The ATO encourages employers to apply for the amnesty and make payments as early as they can.

Importantly, eligible amnesty amounts paid by 7 September 2020 are tax deductible!

The ATO must receive amnesty applications by 11:59 pm (local time) on 7 September 2020.

Broadly, to be eligible for the amnesty:

• the unpaid super must be for a quarter between 1 July 1992 and 31 March 2018;
• the shortfall cannot have already been disclosed to the ATO; and
• the ATO cannot already be examining the shortfall.

If an employer cannot pay in full, the ATO will work with them to set up a flexible payment plan.

Superannuation guarantee payments and PRNs

Applicants will need their payment reference number (‘PRN’) to make SG amnesty payments.

The ATO has been sending employers their PRN within 14 business days of receiving their application, however, if an amnesty application has not been lodged by mid-August, they can get their PRN:

• from a super guarantee charge related statement issued for the same Australian Business Number; or
• by phoning the ATO on 1800 815 886 between 8.00am and 6.00pm from Monday to Friday.

If you wish to discuss the implications of the SG amnesty and any related payment plans (or indeed anything else with respect to SG obligations and liabilities) please contact our office urgently on 08 9380 3555 to discuss.