Superannuation Guarantee Amnesty bill passes Parliament

The Superannuation Guarantee (SG) Amnesty bill has now passed through both houses of parliament and awaits Royal Assent

What does this mean for you?

If you are one of the employers who has failed to comply with their SG obligations during the period 1 July 1992 to 24 May 2018, then you will be able to avail yourself of the one-off amnesty and encouraged to remedy the situation.  Employers will received six months to disclose their historical non-compliance after which time tougher penalties may apply.

The new legislation will also impose minimum penalties on employers who fail to come forward during the amnesty period by limiting the commissioner’s ability to remit penalties below 100 per cent of the amount of SG charge payable.

Read more about the SG Amnesty

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