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Time is Almost Up for Super Amnesty

written by Josh McMullen

This week is the last chance for employers to use the super guarantee amnesty to catch up on past unpaid super, without incurring a penalty (of up to 200%) or paying administration fees.

To be eligible for the amnesty:

  • the unpaid super must be for a quarter between 1 July 1992 and 31 March 2018
  • you must not have already disclosed the shortfall to the ATO
  • the ATO must not already be examining the shortfall
  • the ATO must receive your application by 11.59pm local time on 7 September 2020.

If you can’t pay the full amount, the ATO can work with you to develop a payment plan to suit your circumstances.

Any amnesty amounts you pay by 7 September 2020 are also tax deductible.

The ATO has no discretion to extend the deadline beyond this date.

Should you have any questions, please contact your PT Partners advisor.

Josh McMullen is a senior tax writer at PT Partners.

Image credits: Ontario Parks


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