Amnesty for historical underpayment of Super Guarantee

Liz Gibbs • May 23, 2018

The government announced that it is introducing a one-off, 12-month amnesty for historical underpayment of super guarantee.

To access the amnesty, employers must pay all that is owing to their employees, including nominal interest. However, penalties for late payment will not be applied during the amnesty period.

Employers that do not take advantage of the amnesty will face higher penalties when they are subsequently caught – in general, a minimum 50 per cent on top of the SG Charge they owe.

In addition, throughout the amnesty period the government has stated that the ATO will continue its usual enforcement activity against employers for those historical obligations they do not disclose voluntarily. Subject to passage of the Bill, the amnesty will run for 12 months from Thursday 24 May.

Want to take advantage of the amnesty period?

Call us at Robert Goodman Accountants on 07 3289 1700 or email us at reception@rgoodman.com.au. Source: Thomson Reuters. Brought to you by Robert Goodman Accountants.

< Older Post

Newer Post >

Vision Mapping: Charting a Clear Path to Business Growth

By Liz Gibbs • May 22, 2025

Today we explore vision mapping—a powerful framework to define and drive your business’s long-term success.

Cut Waste, Boost Profits: A Simple 5-Step Process

By Liz Gibbs • May 15, 2025

Did you know that waste can eat up as much as 30% of your operating costs? That’s a huge chunk of your budget! And yet, many businesses just accept it as part of doing business—focusing on increasing sales instead of fixing inefficiencies. But here’s the thing: why push more sales through a system that’s not running smoothly?

GIC Tax Deduction Is Ending – Time to Rethink Your ATO Debt Strategy

By Liz Gibbs • May 14, 2025

From 1 July 2025, the General Interest Charge (GIC) on unpaid ATO debts will no longer be tax-deductible. That means holding onto tax debt could cost you more than you think, especially if you’re counting on the deduction to ease the burden.

Truck driver entitled to claim meal expenses

By Liz Gibbs • May 13, 2025

In a recent decision, the Administrative Review Tribunal ('ART') upheld a truck driver's claim for meal expenses, notwithstanding that those expenses had not been fully substantiated.

Increase to rate for working from home running expenses from 1 July 2024

By Liz Gibbs • May 12, 2025

The ATO has updated its guidelines for claiming work-from-home expenses, making things a bit simpler for many people.

How to Avoid Common CGT Mistakes

By Liz Gibbs • May 11, 2025

Just because you have a clearance certificate, it doesn’t mean you’re off the hook for other CGT (Capital Gains Tax) obligations.

Friendly Reminder: Minimum Pension Drawdown

By Liz Gibbs • May 9, 2025

If you’re receiving an account-based pension from your SMSF, there’s a minimum amount you need to withdraw each year. This amount is worked out using a percentage based on your age and your pension account balance as at 1 July 2024-or on a pro-rata basis if you started your pension partway through the 2025 financial year.

Tiny Habits, Big Wins: How Small Changes Can Make a Huge Difference

By Liz Gibbs • May 8, 2025

Let’s chat about micro habits—those small, super-manageable actions that can actually lead to some pretty big improvements in how we manage our time and priorities. If you’ve ever left a workshop full of great ideas only to forget them a week later, you’re not alone. That’s where micro habits come in. They’re easy to stick with and surprisingly powerful.

Managing Your Day-to-Day Business Transactions

By Liz Gibbs • May 8, 2025

Running a small business can get hectic, but staying on top of your finances doesn’t have to be overwhelming. The ATO has a few helpful tips that can make managing your tax obligations a lot smoother:

ART rejects taxpayer's claim for CGT small business relief

By Liz Gibbs • May 2, 2025

In a recent decision, the Administrative Review Tribunal ('ART') held that a taxpayer was not entitled to the CGT small business concessions on the disposal of his interests in some farm land.

Contact Us