Paying your super obligations
Updated: Apr 1
At the end of February, Government passed a bill providing a one-off amnesty to employers in order to encourage them to clear outstanding super payments to current and past employees without penalty. The amnesty will expire six months after the bill receives royal assent.
If you owe your employees super, what would stop you from voluntarily disclosing this to the ATO and making these payments?
For those organisations who always pay on time, or employees with unpaid super for that matter, what do you think about this amnesty for employers who have not done the right thing and paid their super obligations?
It's definitely a contentious issue and while I applaud any action which will encourage employers to pay their employees' outstanding super, I also advocate small business in taking steps to prevent this from happening in the first place.
Paying your obligations - super, tax or otherwise - should be the first priority in managing cashflow. If you're not able to do this, either your business is not viable, or you're taking too much profit.