GST obligations to be included under the director penalty regime
It looks like Directors Penalty Notices( DPNs) for GST are set to take effect 1 October 2019 on the back of legislation that lapsed at the dissolution of Parliament in the lead up to the last federal election but has just been revived.
As well as directors possibly facing personal liability, the options available to the ATO under its director penalty regime includes garnishee proceedings to recover amounts owed, offsetting amounts owed against any other tax credits, and initiating legal recovery proceedings. Before any of such actions are taken, the ATO is obliged to issue a “director penalty notice” outlining the unpaid amounts and remission options open to the concerned directors. (more…)