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Super Amnesty ends 7 September

Super Amnesty ends 7 September

Current as at 20 August 2020

We have mentioned this in a number of past editions of S & W Insight but it is now time to finalise any access to the Superannuation Guarantee Amnesty.

The amnesty was introduced on 6 March 2020. The amnesty period ends on 7 September so please ensure you do everything you need to before the expiration date. Details of the amnesty are shown in the link below.

https://www.ato.gov.au/business/super-for-employers/superannuation-guarantee-amnesty/

The ATO has recognised that many employers may wish to participate in the amnesty, but are concerned about their ability to make payments due to the loss of income suffered during the COVID – 19 crisis. The ATO have stated that they will work collaboratively with those who participate to provide flexible payment plans that extend beyond 7 September. Please note, however, that only payments made prior to the 7 September deadline will be tax deductible.

If you wish to discuss the amnesty, don’t hesitate to contact your client manager in S & W.

DISCLAIMER

This newsletter has been produced by Stanley & Williamson as a service to its clients and associates. The information contained in the newsletter is of general comment only and is not intended to be advice on any particular matter. Before acting on any areas contained in this newsletter, it is imperative you seek specific advice relating to your particular circumstances.

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