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HAPPY DPN’ING DAY everyone!

A reminder that from today GST, wine equalisation tax and the luxury car tax can be included in a directors personal liability to the Australian Taxation Office for company tax liabilities. This is done in the form of a Director’s Penalty Notice. Don’t forget that if you or your clients receive a DPN, you only…

DPN’ing the corporate veil

Directors may start being held personally liable for ATO debts owed by their company from 1 April 2020. Any remnants of the corporate veil, are now well and truly gone. The move comes after the Government introduced new legislation designed to tackle illegal phoenix activities. I previously warned last year about this new legislation. When…

Broadening DPN’s to GST, LCT and WET

An extension of the Director’s Penalty Notice (“DPN”) regime to GST, luxury car tax (“LCT”) and wine equalisation tax (WET”) was announced in last night’s #Budget. All to supposedly combat #illegalphoenixactivity … Currently, directors can be held personally liable for unpaid superannuation and PAYG liabilities: (a) where they have lodged the relevant returns with the ATO (called a…