Superannuation guarantee personal liability for Directors
Author: Simon Della Marta, Partner
31 October 2011
Further to the article in last month’s publication Directors personally responsible for superannuation guarantee payments - Further obligations on their way, please click here for further information.
On 13 October 2011 the Australian Government presented the proposed bill to the Federal Parliament with the second reading speech. In media release No 2011/138, issued 13 October 2011, the Assistant Treasurer and Minister for Financial Services and Superannuation, Bill Shorten, commented on the provisions of the Bill designed to protect workers' superannuation and deter fraudulent "phoenix company" activity.
Debate on the bill was adjourned. This bill is likely to become law within the next 6 months and be effective upon royal assent.
If you have any questions regarding how the proposed legislation may affect you, please do not hesitate to contact us.
Simon Della Marta
Partner
T: +61 2 9390 8310
E: simon.dellamarta@holmanwebb.com.au