Division 268 in Schedule 1 Division 268 in Schedule 1 commencing from the day’. commencing on the day’, ‘initial ‘initial For PAYG liability estimates, the being the day the company is given a initial day will be from the day on notice of the estimate. which the company would have been obliged to pay the underlying liability. For superannuation guarantee liability estimates, the initial day will be from end of the quarter to which the estimate relates to. A director penalty cannot be remitted A director penalty cannot be remitted if a company is placed into voluntary if a company is placed into voluntary administration or insolvency where: administration or insolvency where: The company has an obligation to The company has an obligation to pay a superannuation guarantee pay a superannuation guarantee charge and the company does not charge and the company does not report the superannuation report the superannuation guarantee charge liability to the guarantee liability to the Commissioner on or before the Commissioner within three due date; months from due date of the superannuation guarantee charge The company has an obligation to liability. pay an estimate of a superannuation guarantee charge The company has an obligation to and the day by which the pay an estimate of a company was obligated to pay the superannuation guarantee charge underlying liability to which the and three months from the day by estimate relates has passed. which the company was obligated to pay the underlying liability to which the estimate relates has passed. The Commissioner can seek a Court No equivalent. order to compel an entity to comply with a requirement to provide a security deposit for an existing for future tax related liability under section 255-100 of Schedule 1. Detailed explanation of new law Timing of obligation to pay estimates for the purposes of Division 269 in Schedule 1 amendments alter the time at which a director taken to be under an obligation to ensure the company pays an estimate of an underlying superannuation guarantee charge or PAYG withholding liability for the purposes of the director penalty provisions in Division 269 in Schedule 1.
Division 268 in Schedule 1 commencing from the ‘initial day’. For PAYG liability estimates, the initial day will be from the day on which the company would have been obliged to pay the underlying liability. For superannuation guarantee liability estimates, the initial day will be from end of the quarter to which the estimate relates to. Division 268 in Schedule 1 commencing on the ‘initial day’, being the day the company is given a notice of the estimate. A director penalty cannot be remitted if a company is placed into voluntary administration or insolvency where: The company has an obligation to pay a superannuation guarantee charge and the company does not report the superannuation guarantee charge liability to the Commissioner on or before the due date; The company has an obligation to pay an estimate of a superannuation guarantee charge and the day by which the company was obligated to pay the underlying liability to which the estimate relates has passed. A director penalty cannot be remitted if a company is placed into voluntary administration or insolvency where: The company has an obligation to pay a superannuation guarantee charge and the company does not report the superannuation guarantee liability to the Commissioner within three months from due date of the superannuation guarantee charge liability. The company has an obligation to pay an estimate of a superannuation guarantee charge and three months from the day by which the company was obligated to pay the underlying liability to which the estimate relates has passed. The Commissioner can seek a Court order to compel an entity to comply with a requirement to provide a security deposit for an existing for future tax related liability under section 255-100 of Schedule 1. No equivalent. Detailed explanation of new law Timing of obligation to pay estimates for the purposes of Division 269 in Schedule 1 amendments alter the time at which a director taken to be under an obligation to ensure the company pays an estimate of an underlying superannuation guarantee charge or PAYG withholding liability for the purposes of the director penalty provisions in Division 269 in Schedule 1.