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Directors held liable for missing super guarantee contributions
Company directors will be personally liable for super guarantee contributions (SGC) that do not reach the member's nominated super fund on time, the Australian Taxation Office (ATO) has announced.
The ATO said companies had until 28 November to ensure super guarantee obligations were up-to-date for the June quarter - or directors could risk having to front the charge themselves.
Tax commissioner Michael D'Ascenzo said the move was designed to ensnare employers who were trying to avoid their superannuation obligations.
"These new laws protect people's 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 with the ATO by 28 November, the only way to avoid your personal liability will be to pay the outstanding SGC," he said.
D'Ascenzo advised employers experiencing difficulty in meeting their obligations to contact the tax office.
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