The superannuation guarantee (SG) amnesty provides employers the opportunity to correct any errors or omissions regarding their super obligations and payments for periods up to and including the period ended 31st March 2018.
Importantly employers have until 7th September 2020 to take advantage of the concessions afforded under the amnesty such as:
- Income tax deductions for SGC amounts disclosed:
- Waiver of the $20 administration fee; and
- Waiver of any penalties.
Attending to the amnesty is going to be a time consuming exercise and may involve significant anaylsis of lots of payroll data so it is extremely important that you get in contact with your Accountant urgently so they are able to assist you with this.
Should we be able to help you please contact our office on 9387 5637. We are here to help!