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Bookkeepers cautioned over SG amnesty

Bookkeepers have been urged to communicate to their clients that the one-off, 12-month superannuation guarantee amnesty is not yet legislated, affecting the tax-deductibility of payments and potential penalties.

Bookkeepers cautioned over SG amnesty
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Last month, Minister for Revenue and Financial Services Kelly O’Dwyer announced the introduction of the amnesty to give employers the chance to voluntarily disclose previously undeclared SG shortfalls without having to pay the administration component of the SGC, to be pardoned from the Part 7 penalty, and for these catch-up payments to be eligible for tax-deductibility.

Read the full article at The Bookkeeper.

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