Tax and Superannuation Arrears Policy
The Society considers that a law practice failing to comply with its taxation and/or superannuation obligations are factors which increase the risk of default and is a suitability matter for the principal of the law practice.
The Tax and Superannuation Arrears Policy took effect on 1 March 2021.
A law practices failure to comply with taxation and/or superannuation obligations must be reported to the Society by each principal of the law practice either jointly or severally in accordance with the obligation to report suitability matters. The suitability matter must be reported no later than the application for renewal of the principal's practising certificate immediately following the failure to comply
A notification form, Failure of a Law Practice to Meet Tax and Superannuation Obligations, can be found below: