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TAX ALERT - Superannuation Guarantee Amnesty

Lowe Lippmann Chartered Accountants

Introduction

During September 2019, the Government re-introduced the Treasury Laws Amendment (Recovering Unpaid Superannuation) Bill 2019 into Parliament, which proposes to introduce a one-off superannuation guarantee (SG) amnesty for employers who have not always complied with their SG obligations.

Those employers who voluntarily disclose their non-compliance to the ATO during the amnesty period would be; able to claim income tax deductions for the SG amounts disclosed, will not be charged the administration fee, and will not be subject to any further penalties.

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