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New super guarantee laws make directors liable

Company directors need to be aware that the Australian Government have brought in new laws now making directors personally liable for their company’s unpaid guarantee charge.

Companies have two weeks to ensure their super guarantee obligations are up-to-date for the June quarter or directors risk having to pay the super guarantee charge (SGC) themselves.

Tax Commissioner Michael D’Ascenzo said “These new laws protect peoples’ retirement incomes from employers who deliberately try to avoid their superannuation obligations. If you are a director whose company has not paid the super guarantee for the June quarter and your company does not lodge the overdue SGC Statement with the ATO by 28 November, the only way to avoid your personal liability will be to pay the outstanding SGC.”

For further information contact the ATO directly on 13 10 20 or contact our office on (03) 8813 0162 and speak with Andrew or Bec.


Tags: Superannuation |