The Australian Taxation Office has a variety of tools they can use to recover ATO debt from a company. We explain these tools in more detail here.
If your company owed the ATO any Pay as You Go Withholding (PAYGW) or Superannuation Guarantee Charge (SGC), the ATO can send a director of a company a Director Penalty Notice (DPN).
In this video we explain what DPN’s are and a few ways directors can minimise the risks of getting one.
And if you receive a DPN, get in touch with us as soon as you can. Our insolvency professionals can give you fast and effective advice on your options, and help you choose the best way to revive your business.
For more information on director advice, check out our director advice page here.