At the time when the superannuation guarantee amnesty measure ran its course (it expired 7 September 2020), the Assistant Minister for Superannuation Jane Hume reported the amnesty resulted in 24,000 employers coming forward, with about $588 billion paid into nearly 400,000 accounts.

Businesses that qualified for the amnesty by disclosing unpaid SG before the deadline, however, are in danger of being disqualified should certain steps not be taken. The ATO says such taxpayers must either:

  • pay in full any outstanding amounts they owe
  • set up a payment plan and meet each ongoing instalment amount.

The ATO says it is sending reminders to those who made amnesty disclosures to pay their disclosed amounts if they have not previously engaged with the ATO. Eligible businesses will have 21 days to avoid being disqualified from the amnesty.

If you need to set up a payment plan, we can help you do this if you:

  • have an existing debit amount under $100,000 (total balance or overdue amounts)
  • do not already have a payment plan for that debit amount
  • have not defaulted on a payment plan for the relevant account more than twice in the past two years.

If there is any reason why you are unable to set-up a payment plan, the ATO says taxpayers should make contact so it can work with you to find the right solution. You must meet each ongoing instalment of the payment plan to continue to qualify for the amnesty.

If you are disqualified from the amnesty, you will:

  • be notified in writing of the quarter you are disqualified for
  • be charged an administration component of $20 per employee for each disqualified quarter
  • have your circumstances considered when deciding on a penalty remission
  • be issued with a notice of amended assessment.

Those who have and continue to qualify for the amnesty can only claim a tax deduction for amounts paid on or before 7 September 2020.

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