Lockdown Dpn

Tax

The ATO is rattling its debt-collection sabres – How ready are you and your clients?

Bruce Collins, June 16 2022

This article was originally published in CCH iKnow. After a COVID-induced hiatus, there has been a lot of recent activity from the ATO on their debt collection efforts, including warnings about the potential issue of Director Penalty Notices and referral of larger corporate tax debts to credit reference agencies, as may be seen from these links...

Tax

Director Penalty Notices explained

Bruce Collins, July 13 2021

Directors aren’t liable for company debts – right? The Director Penalty Notice regime may make director’s personally liable for unpaid tax debts When setting up your company, one of the first benefits explained to you would have been ‘limited liability’ for you as a shareholder and director. As a company is an independent legal entity, liability is...