As we have set out in previous articles the ATO can make company directors personally liable for unpaid PAYG Tax, GST and superannuation by issuing a Director Penalty Notice. If a director receives a 21-Day Director Penalty Notice they can avoid liability by using Small Business Restructuring (SBR). But how does this work? ...
The federal government recently passed a legislation in respect of the $450 a month wages threshold before an employer is required to pay superannuation. Formerly, employers were only required to pay superannuation for employee wages if the employee earns more than $450 a month. ...
If your company is in financial difficulty, there are numerous risks involved, including the risks of lockdown Director Penalty Notices....
Historically the ATO has been able to issue lockdown Director Penalty Notices for unpaid amounts of superannuation if SGC Statements hav...
Under the ATO’s Director Penalty Notice regime, company directors can be personally liable for a company’s unpaid superannuation. The unpaid superannuation is (after three months) payable to the ATO as superannuation guarantee charge (SGC) and the ATO can issue a Director Pena...
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