Employers who have not paid their superannuation guarantee (SG) in the past now have a one-off amnesty from penalties to make good on their compliance. The previous rules relating to SG charge denied the tax deductibility of late super payments, and applied additional penalties.

Superannuation Guarantee Amnesty2

This Bill received royal assent on 6 March 2020. Therefore, the amnesty applies from 24 May 2018 to 6 September 2020.

The disclosure period that applies to the amnesty can be made from the quarter starting 1 July 1992 to the quarter ending 31 March 2018.

The main qualification for the amnesty to apply for the employer is that the ATO must not have previously declared an investigation into the financial quarter in question.

The legislation also has strict penalty provisions which the ATO must charge if an employer fails to declare a SG shortfall post-amnesty period.