The changes protect workers’ entitlements and strengthen
directors’ obligations by:
- Extending the Director Penalty Regime and the estimates
regime to apply to unpaid super guarantee charge;
- Ensuring that directors cannot discharge their director
penalties by placing their company into administration or
liquidation when pay as you go withholding (PAYG
withholding), or super guarantee charge liabilities, were not
reported within three months of the due date (known as
‘lockdown’ director penalties); and
- In some instances, making directors and their associates
liable to PAYG withholding non- compliance tax (NCT), a
tax equivalent to reducing PAYG credit entitlements where
the company has failed to pay amounts withheld to the
Commissioner.
These new changes stress the importance of lodging your BAS
(Business Activity Statement) on time and also reporting your
superannuation liability. Even if payment cannot be made it
should still be lodged.
The Tax Office is currently sending out letters to directors of
companies that have unpaid super guarantee amounts. These
letters explain the director’s obligations and personal risk in
relation to their company’s super guarantee debt. It encourages
directors to ensure their company addresses the outstanding
super guarantee debt either by paying it immediately or by
establishing an agreed payment plan.
For more information contact our accountant Anthony Nolan at
Greenhalgh Pickard Solicitors & Accountants on (07) 5444 1022 or
email [email protected].
Ryobi door closers
> Engineering excellence as standard
Ryobi has been manufacturing die cast door closers since 1963 to exacting standards in
design & technology that guarantees each door closer produced is to the highest quality.
From the factory to the office, Ryobi’s comprehensive range meets the design and functional
requirements of today’s building environment.
Call your nearest branch on 1300 551 919
www.lincolnsentry.com.au