“However, I do not have discretion in relation to the nominal interest component of the charge which is charged to employers who have not made contributions to a fund on time,” Mr D’Ascenzo said. Nominal interest is passed on to an employee’s super fund to compensate the employee for late payments made on their behalf to their super fund by their employer.
In a broadcast message issued the same day, the ATO informed tax agents of the deferral.
For a copy of the ATO media release, No 2009/14, go here.
For a copy of the ATO broadcast, 27 February 2009, go here.