Superannuation Guarantee Amnesty
Although this Amnesty has not yet been passed into law it is wise to look into it.
If and when it passes, this Amnesty will apply to employers who have either missed a SG payment or have not paid employees’ superannuation on time.
What the Amnesty will do is provide employers with a one-off opportunity to correct their non-compliance without penalty.
As things stand at the moment, the proposed amnesty is intended to be available for 12 months from 24 May 2018 to 23 May 2019.
Until the current law is changed, you are still required to lodge a Super Guarantee Charge Statement.
For more information about the Amnesty benefits and eligibility criteria contact Mark Somes.