
Legislation has been passed through the Federal Government that extends Directors liability for unpaid PAYG and superannuation.
The new legislation revolves around Pay as You Go Withholding Non Compliance Tax Act 2012.
If you have unpaid superannuation or PAYG make sure it is reported now. If it is not reported within 3 months of the due date the ATO will be able to hold the Director personally liable without a directors penalty notice issued.
The director will not be able to avoid liability by resorting to administration or liquidation.
The ATO has also announced that they are ceasing to provide interest and risk free finance options for directors.
Please note that director penalty notices can now also be served on the companies tax agents address as well as at the Directors’ residential address.
If you have any further questions in relation to the above, please do not hesitate to contact us on 07 5536 9777 or email info@attwoodmarshall.com.au or complete an online enquiry form.