Do you employ staff or engage contractors through your business? It is very important that you get your obligations relating to superannuation right.
Failure to comply with Superannuation Laws can devastate a business. The financial burden of having to back pay unpaid superannuation for multiple years combined with a harsh penalty regime has been the catalyst for many business failures.
Failure to comply with Superannuation Laws will not only have financial implications for your business. Unpaid superannuation and penalties can also be recovered from your personal assets if your business cannot meet the obligations. Protection for business owners who choose to trade through a company or trust structure generally will not apply when it comes to unpaid superannuation.
At McCabe Weston Accountants we can help you comply with the Superannuation laws. Below are some of the areas we may be able to assist you with:
- Employee or Contractor Assessment
- Paying Superannuation after its due date (Superannuation Guarantee Charge)
- Employing new staff (Superannuation Choice)
- When do I need to pay superannuation (Ordinary Hours, Overtime, Annual Leave, etc.)
- Paying staff superannuation (Superstream)
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