PS LA 2020/D1 – Super guarantee charge amnesty ending 7 September 2020 – Commissioner’s guidance to staff on remission of additional 200% penalty post-amnesty

On 30 July 2020, the ATO released Draft PS LA 2020/D1, setting out proposed guidelines on the remission of additional super guarantee charge (SGC) after the SG amnesty ends on 7 September 2020. Under Pt 7 of the Superannuation Guarantee (Administration) Act 1992 (SGAA), this additional SGC (Part 7 penalty) is up to 200% of the SGC amount.

See below for details.

[Tax Month – July 2020]