The Federal Government has recently announced the introduction of new legislation, targeted at incentivising employers to come forward and attend to unpaid superannuation obligations.
The Government has introduced a 12-month amnesty period, allowing employers to come forward and attend to any historical superannuation guarantee (SG) entitlements outstanding, without the usual penalties and charges. This one-off scheme is designed to encourage employers to attend to their SG requirements in a timely manner. To access the amnesty, outstanding SG entitlements must be paid by employers in full, including all accrued nominal interest.
Mali De Castro
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