You may have been served with a Directors Penalty Notice (DPN) by the ATO. This is because you are a Director of a Company who has failed to pay PAYG withholding tax, net GST or superannuation obligations by the due date.
Except for unpaid superannuation, if a Director acts to liquidate the company or appoints a Voluntary Administrator within the requisite time frame (14 days from the date of the DPN) the personal liability will not mature.
There is a rider here in that the DPN only must be issued, the ATO do not have to prove that the notice was received.
For superannuation, the personal liability is automatic, particularly where the lodgement of the superannuation is late. No expiry of the DPN is necessary.
If you are a director of a Company that has these liabilities that are overdue, you are vulnerable. If you have received a DPN time is short.
Contact us, as we act for you, and can tailor your strategies to maximise your personal position.
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