Superannuation Guarantee amnesty reintroduced


Superannuation Guarantee amnesty reintroduced

Flor- Hanly - Sunday, October 20, 2019

Proposed Superannuation Guarantee amnesty

Under existing law, if you've missed a payment or haven’t paid an employee's super on time, you are required to lodge a Super guarantee charge (SGC) statement and pay the super guarantee (SG) charge on any SG shortfall amounts.

super guaranteeThe SG charge includes a liability for the mandatory administration component of $20 per employee per quarter for SG Charge statements lodged.

On 18 September 2019 the Assistant Treasurer and Minister for Housing, the Honourable Michael Sukkar MP announced the proposed Superannuation Guarantee (SG) Amnesty (the proposed amnesty) and re-introduced the associated legislation into Parliament.

Until the proposed amnesty law is enacted by Parliament, the ATO will continue to apply the existing law to the SGC statements lodged by employers.

Flor-Hanly does all the things most accounting firms do such as taxation and superannuation. What makes us different however is that we have a bigger focus.

To find out more on how we can work with you contact us on (07) 4963 4800 or email to arrange a free meeting.

Source ATO

Connect with us whatever way you like!