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New Director Penalty Notice Laws – first Super Guarantee deadline looms

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You’ll have seen me banging-the-drum about the new Director Penalty Notice liabilities, and in particular about retrospectivity, here.  Well the other aspect of the new laws was director personal liability for Superannuation Guarantee.  That bit is not retrospective but the first deadline arrives on the 28th November.  That is,  if a Director hasn’t caused their company to comply with its obligations to pay superannuation, then come 28 November, they’ll be personally liable for it.  

Here are the time-frames:

  • For the period ended 30 June 2012, a company should have paid its liability for employee Superannuation by 28 July 2012;
  • If the company hasn’t paid, then it should report the unpaid amount to the ATO by 28 August 2012;
  • 3 months after that date, so that’s 28 November 2012, the director becomes personally liable for the debt.

A director can avoid personal liability by taking one of the following actions prior to 28 November:

  • report the debt – so…… Note-To-File for directors – if the company can’t pay the debt, report it anyway!!!
  • put the company into Liquidation or Voluntary Administration;

Do nothing and eventually the ATO will pursue the director personally for the unpaid Super.

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