The Super Guarantee Amnesty
Posted 3 Sep '18
Posted 3 Sep '18
The ATO has announced a one-off opportunity for employers to “self-correct” noncompliance of super guarantee payments without penalty.
After estimating that $2.85 billion is currently owed in late or missing super guarantee payments, the ATO are running a 12-month amnesty period where employers can voluntarily disclose undeclared super guarantee shortfalls or missing payments.
Employers who declare within the 12-month period running from the 24th of May 2018 will not be liable for administration penalties that usually apply and will be able to claim deductions for payments made.
It’s important to note that the amnesty only applies to voluntary disclosures. The ATO will continue compliance activities during this period and full penalties will still apply to businesses who have underpayments discovered.
To find out eligibility for the amnesty, benefits and how to declare noncompliance visit the ATO website and search for Super Guarantee Amnesty.
If your business has fallen behind on your super obligations and is eligible for the Super Guarantee Amnesty call us today to find out how we can assist you.07 3124 0244 07 3124 0244
For Queensland builders, tradies and construction businesses, QBCC financial compliance is about more than completing another annual form. The financial position of a licensed business can affect its ability to continue operating under its contractor licence and take on work.
We’re excited to introduce our latest Partner in Business, Simon Clarke, Director of Setlr Buyers Agents. Simon and his team understand that buying property isn’t just about finding the right home or investment. It’s about having the right advice, local knowledge and support to make a confident, well-informed decision.
We’re excited to introduce our latest Partner in Business, Davy Partners, led by Kateena Mills and Aaron Wells. With expertise spanning HR, digital strategy and marketing, their team helps growing businesses put the right people, processes and systems in place to move forward with confidence.