Directors are personally liable for unpaid and underpaid superannuation. Current laws are in place which can hold directors personally liable for unpaid and underpaid superannuation, even if the liabilities arose prior to their appointment as a director.
The director penalty regime can affect all employers from small family businesses to large corporates, and they have resulted in an increased focus towards ensuring all employers current and historical Superannuation Guarantee compliance is confirmed.
As an employer, have you considered the following areas as part of your on-going Superannuation Guarantee compliance:
KPMG can assist employers in structuring employee benefit programs through a review of salary packaging arrangements, which means employers will be Superannuation Guarantee compliant.