Ombudsman welcomes super amnesty extension proposal

amnesty/superannuation/ATO/

23 September 2019
| By Chris Dastoor |
image
image
expand image

Kate Carnell, Australian Small Business and Family Enterprise Ombudsman, has welcomed the Federal government’s proposal to extend the amnesty of non-payment of workers’ superannuation.

The government had introduced legislation last week to extend a one-off amnesty which gave the opportunity for employers to catch-up on superannuation entitlements to employees.

Without the amnesty, employers would be penalised for failing to provide superannuation entitlements.

“We support the Bill as it would provide small business with a window of time to get up to date with outstanding payments to current and past employees,” Carnell said.

“Most small businesses do the right thing in this area, with 95% already complying.”

The Australian Tax Office (ATO) had access to company data through single touch payroll which meant they could easily check if businesses had late or unpaid superannuation payments.

“If this Bill gets through, small businesses should act quickly to take advantage of the amnesty or face significantly higher penalties if found to be non-compliant,” Carnell said.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 3 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 4 weeks ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

1 week 4 days ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 2 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND