Top 5 Things To Know About Director Penalty Notices with David Hill
- DPNs make a Director personally liable for PAYG and superannuation, but can be avoided if you lodge your BAS on time.
- The first type of DPN gives you 21 days to react before the debt becomes a personal liability. So if you receive one, don’t sit on it, do something and get advice immediately.
- The second type of DPN, a lockdown DPN, does not give you 21 days to react. The director is automatically personally liable for the debt.
- Even if the company can’t pay its tax, lodge the BAS on time anyway. On time means within three months of the due payment date.
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