Insights & News

Director Penalties

The ATO has reminded directors (and former directors) of companies that if the company does not meet its PAYG withholding, GST or SGC obligations, the ATO may recover these amounts from the director personally.

The ATO is suggesting that persons who are about to become a director of a company should check for any such unpaid or unreported liabilities. This is because if you become a director and the company has any outstanding liabilities, you will become personally liable for a penalty equal to these amounts The new company directors will be subject to a 30 day period to attend to the outstanding lodgments, or to appoint an administrator, or to wind up the company.

Please refer to the link below for further information regarding your responsibility as a company director.

If you have any outstanding obligations (IAS, BAS, SGC) with the ATO please do not disregard this notice.

Should you require any assistance with bringing any outstanding obligations up to date please contact our office as a matter of urgency.

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