Are you a business owner struggling to fulfill your superannuation guarantee (SG) obligations? The Turnbull government has introduced an amnesty program for all outstanding SG payments. This initiative provides a significant opportunity for small business owners to rectify their unpaid contributions without facing penalties.

Typically, employers failing to meet superannuation guarantee (SG) requirements incur various penalties, including the shortfall of compulsory super payments, interest on forgone investment returns for employees, and administrative fees. Moreover, delayed payments cannot be claimed as expenses, adding to the financial burden.

One of the most significant penalties is the potential for employers to be liable for penalties of up to 200% of the shortfall on any SG payments owed to their employees.

Acting promptly is crucial. The superannuation guarantee (SG) amnesty offers a rare chance to avoid fees and penalties, but action must be taken within the next twelve months. If you’ve missed superannuation guarantee (SG) payments since July 1, 1992, you could qualify for this concession.

Reach out to Waterhouse Lawyers if you have outstanding SG contributions. Our team can assess your eligibility and guide you through the amnesty process, making it more manageable and worthwhile.

Take advantage of this government initiative to alleviate the financial strain and ensure compliance with SG obligations. Seize the opportunity to rectify unpaid contributions and avoid hefty penalties.

Remember, the SG amnesty is a time-limited opportunity. Don’t delay in addressing your unpaid SG contributions. Contact Waterhouse Lawyers today to discuss your situation and start the process of resolving your outstanding payments under this beneficial concession.

In conclusion, the SG amnesty presents a valuable chance for business owners to rectify unpaid superannuation contributions without facing penalties. Act now to benefit from this government initiative and ensure compliance with SG obligations. Contact Waterhouse Lawyers for expert guidance through this process.