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The Super Guarantee Amnesty window is closing

August 24th, 2020

The Super Guarantee (SG) Amnesty is a one-off opportunity for employers to catch up on past unpaid super amounts without risk of fines. But if you plan to apply, you need to do so now as the six-month amnesty window is closing soon. 

Time is running out 

The SG amnesty ends on 11.59pm on 7 September 2020 

If you’re concerned about your ability to make payments due to the financial impacts of coronavirus, the Australian Taxation Office (ATO) can work with you to establish a flexible payment plan.  

It pays to act now  

If you disclose and pay any missed SG charge before the deadline, you won’t incur the administration part of the SG charge. Plus, you can claim payments made during the amnesty as tax deductions. 

If you miss the deadline, it’s highly likely you will be penalised, as the ATO has increased its capability to identify employers with underpaid SG. If this happens, you’ll be on the hook for not only the SG shortfall, but also administration and interest charges, and an additional super guarantee charge of up to 200% (known as the Part 7 Penalty). 

Make sure you’re eligible 

To qualify for the amnesty, your business must:  

  • disclose any SG shortfalls for employees (or disclose additional amounts for previously disclosed quarters); 
  • disclose unpaid amounts for quarters starting from 1 July 1992 to 31 March 2018; 
  • ensure the ATO receives your completed SG Amnesty Form by 7 September 2020; and 
  • not have been informed the ATO is examining or intends to examine your SG obligations for the quarters you’re disclosing. 

How to apply  

  1. Download and complete an SG Amnesty Form for each quarter by the deadline.  
  2. Check all amounts are correct and that you haven’t made any errors. 
  3. Confirm you’re applying for the amnesty by completing the declaration. 
  4. Save the form as an .xls file and keep for your records 

When the ATO receives your forms, they’ll let you know which quarters are eligible for the amnesty. 

Get full details from the ATO 

The ATO has shared details of the SG amnesty in its recent Business Bulletin. Alternatively, visit the ATO’s Superannuation Guarantee Amnesty page for more information and full details of how to apply.  

As always, you can contact the First Super Employer Services Team for help on this or any other super matter. Phone us on 1300 943 171.