Posts tagged "director penalty notice"

Outgoing Australian Taxation Office commissioner Chris Jordan has reaffirmed the office's commitment to a fully digital tax system, asking taxpayers to imagine a potentially "BAS-free" future for small businesses.

The Australian Taxation Office is "unapologetic" about collecting unpaid debts from the small business sector, commissioner Chris Jordan says, giving one final warning to enterprises deliberately holding on to overdue payments. 

The Big Four banks are ramping up their court activity against small businesses as interest rates continue to rise, with legal actions firmly at pre-pandemic levels in October.

Small business directors who confess their late tax statements under the failure to lodge penalty amnesty program may not be spared from other Australian Taxation Office crackdowns, including the use of 'lockdown' director penalty notices, a leading restructuring expert has warned.

The ATO's new small business chief has urged those with unpaid debts to come forward and ask for help, offering a gentle touch just months after leading raids on 19 people suspected of GST fraud.

The ATO is ramping up its issuance of director penalty notices — which can hold current and former company directors personally liable.

Directors of companies that have sought deferrals from the ATO, or that are relying on any of the relief measures, should be wary. Here's why.

From 1 April 2020, Australian company directors will be personally liable for their company’s unpaid GST. Here's what you need to do to minimise your risk.