Superannuation Guarantee Amnesty ends 7th September 2020

The Super Guarantee (SG) amnesty is a one-off opportunity to correct past unpaid SG amounts.

Employers have until the 7th September 2020 to disclose, lodge and pay unpaid SG amounts for their employees without penalties.

The period of unpaid SG amounts is from 1 July 1992 until 31 March 2018.

 The benefits of the Superannuation guarantee amnesty for you as an employer are:

The SG Charge comprising of the SG shortfall amount and interest is deductible
The administration fee will be waived (normally included in the calculation of SG Charge)
The penalties for failing to lodge an SGC statement will be waived

The benefits of the Superannuation guarantee amnesty for your employees are:

The SG amount will be excluded from the employee’s concessional contribution cap
The SG amount will be excluded from the employee’s “low tax contributed amounts” for the purposes of additional tax under Division 293
If you are concerned that you have not paid or underpaid your employees their super, please speak to us or visit the