Dealing with a DPN post-resignation Former directors who receive a Director Penalty Notice (“DPN”) in respect of a company’s tax or superannuation liabilities are often placed in a difficult situation, especially where the current management of…
GST DPN: 12 Months on, the Acronym is no Less Serious
After a number of years in the coming, the Federal Government’s Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2019 was enacted last year, and commenced on 1 April 2020. One of the most significant measures under the new…
Understanding Director Penalty Notices: A Comprehensive Guide for Directors
Directors, as stewards of a company’s financial health, must be aware of the far-reaching implications of Director Penalty Notices (DPNs). A Director Penalty Notice is a tool employed by the Australian Taxation Office (ATO) to hold…
ATO cracking down: An update for your business
The Australian Taxation Office has recently announced in its 2023-2024 corporate plan that its main priorities will include addressing collectible debt. This plan confirms that the ATO will be taking a stronger stance on outstanding amounts…
Director Penalty Notices – The hidden personal liability in directing a corporation
Directors of Australian corporations might think that they assume no personal liability for the financial shortcomings of their company. After all, one of the advantages to setting up a corporation is that it becomes an entirely…