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15 November 2012
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Media release 2012/50
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Under new laws directors are now personally liable for their company's unpaid super 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.
"These new laws protect peoples' retirement incomes from employers who deliberately try to avoid their superannuation obligations," said Tax Commissioner Michael D'Ascenzo.
"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.
"If you are having trouble meeting your superannuation obligations I encourage you to contact us on 13 10 20 to discuss your situation as soon as possible."
On 29 June 2012 the Australian Government introduced a range of laws to protect employee entitlements. These laws are not an extension of time to lodge. Additional penalties will apply where the SGC statement is not lodged by the due date. Further information can be found at Strengthening director obligations.
Further information including how to calculate your SGC and to download the SGC statement can be found at SGC statement and calculator tool.
Last Modified: Thursday, 15 November 2012