Where a Director Penalty Notice has been received and an instalment arrangment or paying the debt in full is not possible or appropriate for whatever reason, the director(s) must consider appointing a Voluntary Administrator.
It is important to note that to avoid personal liability for the director(s), the appointment of the Voluntary Administrator must be made within the 14 days allowed by the Director Penalty Notice. Merely meeting with an administrator or advising the ATO that you intend to make such an appointment is not sufficient to avoid liability.
Learn more about the process and benefits of Voluntary Administration
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