Tax Debt
What is a Director Penalty Notice?
The Australian Taxation Office (ATO) issues Director Penalty Notices for unpaid PAYG withholding amounts, under Section 222 AOE of the Income Tax Assessment Act.
PAYG withholdings are taxes deducted from employee wages and entitlements that should be remitted to the ATO.
The ATO usually issue DPN’s following a long history of broken promises and failed payment arrangements with a company, or when a company and its directors have lost all credibility in the eyes of the ATO.
A Director Penalty Notice may be issued to any or all directors. If not complied with within the 21 days allowed under the notice, the director(s) will become personally liable for the outstanding debt of the company.
In essence, if you have a tax debt, your personal assets are at risk.
Act now to avoid losses later. Discuss your Director Penalty Notice with us today.
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Tax Debt Videos
Director Penalty Notices Video
Director Penalty Notices
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Director Penalty Notices - the Trap
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