The Superannuation Guarantee amnesty is now law July 29, 2020 | Business, Superannuation On 6 March 2020 the Superannuation Guarantee amnesty amendment officially passed into law. This means the superannuation guarantee amnesty for employers has now been officially introduced, allowing employers to begin taking advantage of it. Businesses now have until 11:59pm on 7 September…

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Written by Dante Garcia Revamping salary sacrifice rules   Draft legislation, intended to prevent employers from using employee salary sacrificed amounts to reduce their minimum superannuation guarantee, is currently before Parliament. The Treasury Laws Amendment Bill 2019 was first presented to the house of representatives in July 2019. It proposes changes to how salary sacrifice…

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Across November 2019 cash payouts are about to arrive in the bank accounts of an estimated 2.6 million Australians, and for many it will be a surprise. From Friday the 1st of November you will either receive money in your everyday bank account or your superannuation account from the ATO. This comes with law changes surrounding…

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The Government has brought back the Superannuation Guarantee (SG) amnesty. Employers will now be able to self-correct any of their SG obligations they have fallen behind on, only facing reduced penalties. However, employers who do not take advantage of this limited-time amnesty will face harsh penalties.    After the announcement of the amnesty, the Government has found that over…

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