Time running out for employers to apply for superannuation guarantee (SG) amnesty

Catch up on past unpaid super without incurring a penalty or paying administration fees.

The ATO is encouraging employers to apply for the amnesty and make payments as early as they can. Any amnesty amounts paid before 7 September 2020 are tax-deductible.

For employers to participate in the amnesty, the ATO must receive applications by 11.59pm local time, on 7 September 2020. Once they receive the applications, they will advise which quarters are eligible for the amnesty.

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
• the ATO cannot already be examining the shortfall.

If an employer cannot pay in full, the ATO can work with them to set up a flexible payment plan to ensure they continue qualifying for the benefits of the amnesty.

Check you have the necessary payment reference numbers (PRNs) required to make payments or call Omnis Group’s Business Accountants in Perth on 08 9380 3555.

Related reading

No SG obligation on JobKeeper payments where work is not performed

Source: SG amnesty ends 7 September 2020. (2020). Retrieved from https://www.ato.gov.au/Tax-professionals/Newsroom/Superannuation/SG-amnesty-ends-7-September-2020/