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SMSF Updates

COVID-19: Super guarantee amnesty

14 May, 2020

The ATO has advised that employers affected by COVID-19 should apply for superannuation guarantee amnesty by 7 September 2020, even where they are concerned that, as a result of COVID-19, they will not be able to pay the liability.

The ATO will work with employers to establish a flexible payment plan to assist in making payments. If employers are unable to maintain payments, the law requires the ATO to disqualify the employer from the amnesty and remove the amnesty benefits. However, the disqualification will only apply to any unpaid quarters.

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