The ATO on Thur 15.11.2012, warned directors that under new laws, they are personally liable for their company’s unpaid super guarantee charge [in certain circumstances]. The new laws took effect on 29 June 2012 and were implemented by the Tax Laws Amendment (2012 Measures No 2) Act 2012.
The ATO said companies have 2 weeks to ensure that their super guarantee obligations are up-to-date for the June 2012 quarter. According to the ATO, directors of companies who do not pay the super guarantee for the June 2012 quarter and do not lodge an overdue super guarantee charge statement with the ATO by 28 November 2012 risk having to pay the super guarantee charge personally.
Source: ATO media release No 2012/50, 15 November 2012
[FJM Note: The point to this is that the Superannuation Guarantee Charge arises on the 28th of the month following the relevant quarter, if the employer has not made a sufficient contribution by that date – viz: by 28th July 2012 for the quarter ended 30 June 2012. Then the personal liability of directors, to pay the SGC liability of their company, if their company has not paid the SGC, arises 3 months after it became due, if also, no SG return has been lodged by the company. This takes directors to 28th November 2012(which is 14 days after the date on which this 14 day notice was given).]
[LTN 222, 15/11]