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Superannuation Amnesty – Maybe! Maybe Not!


       


 


An amnesty to allow unpaid superannuation to be reported and paid without penalties has hit a big snag.


The amnesty announced in May 2018 lasting for 12 months was concessional in allowing employers to catch-up unpaid compulsory superannuation with reduced penalties.


However, the legislation has not passed and will not be considered until Federal Parliament next meets in mid-August.


If you do want to use the amnesty, be aware it may not become law.  And extensive wages details need to be provided proving the calculation of unpaid super – possibly a significant time by your pay office (or yourself).


 


 


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