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There are different types of Director Penalty Notices
Receiving any form of letter or documentation from the ATO can be frightening, especially when you’re unaware of your options and obligations. It is important to seek professional advice from registered professionals. Our team at Australian Debt Solvers have in-house experts to guide you through your next steps after receiving a director penalty notice (DPN).
Together, we will talk you through what your DPN means and what your best approach is moving forward.
21-day DNP
A 21-day DNP outlines specific actions you need to take within 21 days of receiving the DPN. If no action is taken, Directors will be personally liable for the tax debt of the business.
Lockdown DPN
A Lockdown DPN refers to when a Director is currently personally liable for the tax debt of the business. We can help decipher your DPN and what it means.
21 Day and Lockdown DPN
This occurs when you get both in one letter.
We’ll work with you on solutions for your situation
Our focus is on helping businesses and people in financial distress.
We provide sound, expert advice to all our clients to alleviate your stress.
Our team at Australian Debt Solvers take a personal tailored approach to each situation.
We:
- Listen to your situation with empathy, before we provide any expert advice
- Will meet you face to face, anywhere in Australia to talk through your options
- Can offer expertise regardless of what you need, whether Company Liquidation
Administration and Restructure, and/or additional funding for the business, we can help you - Have a team of specialists are ready to assist you 24/are a national firm,
with local teams.
Your Solutions
Our team will discuss and analyse your situation to create a tailored solution that works for you. There are a number of options available to reduce the impact of a DPN and avoid personal liability. There is also the flip side, which is when you do not act and ultimately become personally liable for the company’s tax debt.
Deed of Company Arrangement (DOCA)
We can set up the legal binding agreement between the company and its creditors to minimise the impact of insolvency.
Liquidation Services
Our team of liquidators registered by ASIC know that sometimes it’s better to liquidate the company and move forward in other avenues.
Restructure & Turnaround
Modifying the financial and operational aspects of the business for better efficiency that results in a reduction of unsecured debt.
Voluntary Administration
Together we will aim to get your business back on track by providing you the breathing space through voluntary administration.
What does it mean to be personally liable for tax debt?
When a company has text debt it is debt due by the company. However, if the debt is referring to staff PAYG deductions or superannuation, the ATO can make the funds the director’s personal debt. This is what the ATO makes a director liable by sending a Notice (DPN) via mail.
Learn MoreWhy trust us?
As indicated by our name, at Australian Debt Solvers we are all about finding solutions for our clients. Experience, expertise and personalised service are core values of our business and have allowed us to help people facing financial difficulties
We want the best outcome for you. Together, we will discuss your financial position and assess your options. Guiding you through an appropriate path tailored to you and your business.
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We care about our customers
At Australian Debt solvers we take feedback seriously and pride ourselves on providing the best customer services possible.
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