Are you an employer that has unpaid employee super payments? If so, now’s your time to get on top of it. The Government recently announced a one-off 12-month Amnesty allowing employers to self-correct any unpaid superannuation guarantee amounts dating back to 1 July 1992 up until 31 March 2018.
The Amnesty runs from the 24 May 2018 until the 23 May 2019 and grants favourable treatment to those employers taking advantage with regards to the penalties and fees that are usually imposed on late superannuation contributions.
And that’s not all… as an additional incentive, the catch up superannuation guarantee amounts that are paid within the amnesty period will be fully tax deductible.
But are you eligible? As an employer you must:
A SG Amnesty ATO payment form is required to be submitted to the tax office.
So if you are interested in taking advantage of this Amnesty and tidying up your non-complying affairs, please give us a call on 6652 2333 and we will help steer you in the right direction.
For further information on this topic, click here.
– Posted 13.8.18
This article is compiled as a helpful guide for your private information and is subject to copyright. We suggest that you do not act solely on the basis of material contained in this article because items are of general nature only and may be liable to misinterpretation in particular circumstances. We recommend that our advice be sought before acting on any of these crucial areas.