The Super Guarantee Amnesty is an opportunity to catch up on any unpaid super without the usual penalties applying. 

To be eligible for the Amnesty, an employer must make disclosure before 7 September 2020, be disclosing to the Commissioner for the first time, and use the approved form available from the ATO website here (refer section ‘how to apply for the Amnesty’).

The Amnesty only applies to unpaid superannuation guarantee relating to quarters between 1 July 1992 and 31 March 2018. The Commissioner must not have previously examined, or provided intent to examine, the employer’s super guarantee compliance for the quarter they are disclosing.

The Amnesty also applies to super payments that have been paid late and where you have not previously disclosed the late payment via a Super Guarantee Charge Statement.

Warning: there are significantly higher penalties after the Amnesty period has ended, where the ATO identifies super guarantee non-compliance and the employer did not make voluntary disclosure under the Amnesty. Penalties will be equivalent to at least 100% and up to 200% of the amount of superannuation guarantee payable. Interest and administration fees also apply.

WHAT IF MY BUSINESS IS STRUGGLING AND PAYMENTS CAN’T BE MADE?

If you are concerned that you are not currently able to pay the amount you have owing, you should still apply for the Amnesty to receive its benefits and work with the ATO to establish a payment plan.

WHAT TO DO NEXT?

Employers are strongly encouraged to review their situation now and to take full advantage of the Amnesty before the 7 September 2020 deadline.

Impacted employers making use of the Amnesty is crucial. Super guarantee non-compliance that is identified by the ATO after 7 September 2020 will be subject to minimum penalties of 100% of the shortfall and opens up the employer to further ATO review (which could extend to other areas of employment tax, such as FBT and PAYGW).

For more information please visit the ATO website here.

If you have any questions, or if you need assistance with completing the declarations, then please contact us directly and we can assist you with your requirements.