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Tag Archives: insolvency
Director penalty notices – part 2
This is the second of a series of videos prepared by Insolvency Experts Director penalty notices are notices that the Australian Taxation Office may send to directors of a company that has unpaid PAYG Withholding. The notice serves to make … Continue reading
Director’s duty to prevent insolvent trading
ASIC has today released regulatory guidance to assist directors to understand and comply with their duty under the Corporations Act 2001 (Corporations Act) to prevent insolvent trading. The Corporations Act requires a director of a company to prevent the company … Continue reading
Important Changes to Director Penalty Notices
Under the old regime, if a director has received a Director Penalty Notice (“DPN”), he could avoid personal liability for the company’s tax debt by entering into an instalment payment arrangement with the ATO. Under the new regime, entering into … Continue reading
