Hi i was a 50/50 joint director of a company with a friend for a short period 12-18months and we missed some superannuation payments due to lack of funds in the business. We were both 50/50 directors & employees.We were the only employees,my friend is now sole director and I have no connection to the company I also no longer live in Australia. I have a few questions.
1,Is it possible to not pay the super that is for myself ie the super I accurred whilst working as it is going to my super fund?
2,If there was no funds to pay at the time does that make any difference?
3, Below is a table my friends accountant has sent, this is my super accured plus the intrest payments, the intrest seems very high its around 25% and from looking online it the SGC interest on super should only be 10%pa? Is there any reason why it would be so high?
Thanks for your help and any advice on what to do is appreciated
Robert
Period Super Interest Admin Total
FY21 Q4 470.99 20.00 490.99
FY22 Q1 1,512.00 414.15 20.00 1,946.15
FY22 Q2 1,662.0 413.34 20.00 2,095.34
FY22 Q3 225.00 50.29 20.00 295.29
FY22 Q4
FY23 Q1
FY23 Q2
FY23 Q3
FY23 Q4
Total 3,399.00 1,348.77 80.00 4,827.77
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