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Director penalty regime - guide for directors  

What you need to know at a glance

If you are a director or about to become a director of a company, you should make immediate enquiries to ascertain if there are any unpaid and unreported Pay As You Go (PAYG) withholding or Superannuation Guarantee Charge (SGC) amounts.

End of attention

  • Directors will be personally liable for unpaid PAYG withholding or SGC amounts.
  • Avoid incurring director penalty liabilities by ensuring the company is lodging and paying on time.
  • Even if you are no longer a director of a company, or are a newly-appointed director, a director penalty may still apply to you.
  • We are likely to issue a director penalty notice to collect company debts where the company hasn't engaged with us to resolve outstanding obligations.
  • If a penalty has been incurred, there are certain actions you must take to have the penalty remitted.
  • Payment is the only option to remit the penalty if the associated company liability was not reported within three months of the due date.
  • Ensure your address details are up to date with us and the Australian Securities and Investment Commission (ASIC).
  • Contact us immediately if you have received a director penalty notice (DPN).
  • Your tax agent can also help with your specific circumstances.

https://www.ato.gov.au/Business/Your-workers/In-detail/Director-penalty-regime/

 

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