Written by Condon Associates on 6 July 2011

If you remember our blog of the 4th July it refers to the recent changes to the taxation legislation and the improvision of personal liability for outstanding superannuation contributions.

On the 5th July, we were contacted by the client of an accountant, that we know who had received a call from the Australian Taxation Office the day before, advising them that they had an outstanding superannuation debt of in excess of $150,000 and drawing their attention to the new legislation.

It would appear its game on!

For those interested in the details of the Exposure Draft and Explanatory Statement, it can be found at the following addresses:-

Exposure Draft

Explanatory Memorandum

I really do suspect that they are worth the read.

PLEASE NOTE: All information contained in the articles below was correct at time of publishing.