Build your financial security with OBT Financial Group – Lockyer Valley’s Business of the Year 2015 and specialist financial advisers to individuals, business owners and farming families on accounting, tax, business advice and wealth planning for over 30 years.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.
The 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.
If you are unsure what action to take for your situation, phone us on 07 5462 2277.
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