Unpaid superannuation amnesty now available

The Government's superannuation amnesty legislation ( the Treasury Laws Amendment (Recovering Unpaid Superannuation) Act) finally passed Parliament in February and became law from 6 March 2020.

This follows on from the false start in 2018 when an amnesty was announced, but the legislation did not pass Parliament, and some keen employers who had disclosed underpayments on the faith of the announcement had to have ATO discretion applied to avoid penalty, we covered this in one of our previous blogs. As the new legislation implements the previously announced amnesty, it only applies to superannuation underpayments up to 1 April 2018, NOT underpayments that occurred after that date.