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SG amnesty unpacked

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Published on 01 Sep 20 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

The superannuation guarantee (SG) amnesty provides a one-off opportunity for employers to self-correct historical SG non-compliance. Following the expiration of the amnesty on 7 September 2020, the standard rules revert and employers face stronger penalties for non-compliance in the future. This article considers the fundamentals of the SG regime, dispels some misapprehensions and reminds practitioners that there are no limits on the review period for SG shortfalls. The benefits of the SG amnesty are unpacked and the circumstances in which employers should consider coming forward are identified.Nuances may arise such as the effect of amnesty payments on the concessional contributions cap, Div 293 tax and how to deal with shortfalls relating to non-residents and deceased employees. The benefits offered by the amnesty are contrasted with the severe
consequences of not coming forward during the amnesty period. Finally, the article sets out the case for extending the amnesty period beyond September. 

Author profile

Robyn Jacobson CTA
Robyn Jacobson, CTA, is the Senior Advocate at The Tax Institute. She is an avid advocate, social media commentator, columnist, blogger, webcaster, presenter and the host of The Tax Institute’s TaxVibe podcast. She is also frequently quoted in the media. In her role as Senior Advocate, Robyn champions improvements to our tax system, with a focus on SMEs and supporting practitioners. Robyn regularly consults with the Treasury, ATO and professional bodies on technical issues, including as Co-Chair of the ATO’s Tax Practitioner Stewardship Group and a member of various other working groups Robyn has more than three decades in the profession, including a public practice background and more than 20 years guiding the profession in her various roles as a professional tax trainer. Robyn is a Chartered Tax Adviser of The Tax Institute, and a Fellow of both CA ANZ and CPA Australia. - Current at 10 April 2025
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