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Second Reading Speeches

Treasury Laws Amendment (Recovering Unpaid Superannuation) Bill 2019

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
46

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Summary

Amends the:

Income Tax Assessment Act 1997
and
Superannuation Guarantee (Administration) Act 1992
to provide for a one-off amnesty to encourage employers to self-correct historical superannuation guarantee non compliance; and
Superannuation Guarantee (Administration) Act 1992
to limit the Commissioner of Taxation’s ability to remit penalties for historical superannuation guarantee non-compliance, where an employer fails to disclose information relevant to their historical superannuation guarantee shortfall.