We have previously explained about the different types of director penalty notices (DPNs) which can be issued by the ATO here. In summary there are: ‘Ordinary’ or 21-day DPNs where directors can avoid personal liability if the company is placed in liquidation or voluntary administration; and ‘Lockdown’ DPNs where directors will not be able to […]
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The director penalty notice (DPN) regime is one used by the Australian Tax Office (ATO) to recover debts owed to the ATO. The ATO has the power to issue DPNs to directors to make them personally liable for their company’s tax debt. Directors are otherwise not usually liable for debts of their companies. Types of […]
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A review carried out by the ATO shows that undisputed tax debts have increased by 77.6 percent in the four years to 30 June 2020. Inspector-General of Taxation and Tax Ombudsman, Karren Payne’s review found that collectable debt has grown from $19.2 billion at 30 June 2016 to $34.1 billion at 30 June 2020. The […]
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