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.