Did you know that if a business does not pay Superannuation for its employees on-time, the superannuation cannot be claimed as a tax deduction? Further the business will be hit with interest at 10% on the non/late-payment and will also have to pay an administration fee of $20 per employee, per quarter. Note that a Super Guarantee Charge Statement must be filled out if Superannuation Obligations have not been met.

Director Penalties:

Company Directors have legal responsibility to ensure that their company meets its superannuation obligations. If a director fails to do so in full by the due date they automatically become personally liable for a penalty equal to the unpaid amount

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