Directors Penalty Notices (2018)

Directors Penalty Notices (2018)

DIRECTOR PENALTY NOTICE (‘DPN’)

Company directors and their advisers need to be aware that non-lodgment of Business Activity Statements (‘BAS‘) and Superannuation Guarantee Charge (‘SGC‘) Statements with the ATO could lead to the directors becoming personally liable for these debts. The ATO uses DPNs and Garnishee Notices to recover tax debts and to impose positive obligations on directors to deal with outstanding PAYG Withholding and Superannuation Guarantee Charge debts (‘Tax Debts’). The DPN regime makes directors of companies who fail to pay Tax Debts personally liable. Please refer to the following link for more information on the key facts about directors penalty and tips for directors to limit or avoid personal liability.

Download “The Insider” November 2018 Issue