Company directors: Tips on how to limit personal liability for unpaid taxes
The Director Penalty Notice (“DPN”) regime poses a significant risk of personal liability to company directors for unpaid PAYG tax debts and Superannuation Guarantee Charges. In years past, company...
View ArticleWhat is the difference between a “standard” Director Penalty Notice and a...
Standard Director Penalty Notices The ATO will usually issue a standard Director Penalty Notice (“DPN”) in circumstances where a company has reported its Pay-As-You-Go (“PAYG”) and Superannuation...
View ArticleWhat is a Director Penalty Notice?
A Director Penalty Notice (“DPN”) is a method by which the Australian Taxation Office (“ATO”) seeks to ensure that company directors cause their companies to meet their obligations to pay Pay-As-You-Go...
View ArticleCorporate insolvency update: Director Penalty Notice changes
In an earlier post we raised the possibility of changes to the law concerning Director Penalty Notices. The Treasury released its exposure draft of the proposed legislation for public consultation...
View ArticlePossible changes to Director Penalty Notice regime
In the recent budget, the Commonwealth government addressed the issue of fraudulent phoenix activity and proposed a number of law changes to strengthen the ability of regulators, particularly the...
View ArticleShareholder Disputes: How can a Court resolve them?
In our last post, we discussed a number of different circumstances where a minority shareholder might be able to bring proceedings against a company and other shareholders. The type of case we...
View ArticleShareholder Disputes: What are my options?
In our last post we discussed a number of ways that might help avoid a shareholder dispute. In some circumstances, the relationship between shareholders can break down so severely that mediation or...
View ArticleDuty to Prevent Insolvent Trading
In our recent post “What Is Insolvency?” we explained that when it comes to companies, insolvency is the inability of a company to pay its debts as and when they become due and payable. We also went...
View ArticleDirector duties reminder: ASIC successfully prosecutes 75 company officers
Earlier today the Australian Securities and Investments Commission issued a press release relating to the successful prosecution of 75 company directors and other officers between September and...
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