The superannuation guarantee amnesty is back in the news. The federal government introduced a 2019 bill late last year which has passed the lower house and has now gone to the Senate for their deliberation.
The bill is designed to encourage those employers who have not met their duties to get them up to date.
The minister has described the bill as ‘a carrot and a stick!”.
Obviously the carrot is the lack of penalties for those who come forward during the amnesty period. For those who don’t the stick comes out in the form of very heavy penalties.
As far as I am aware, the Labour Party and the Greens both oppose the bill so it isn’t a certainty yet.
This article appeared in the February 2020 newsletter and was written by Stephen Mason