Top 5 Things To Know About Director Penalty Notices with David HillMay 22nd, 2018
- Lodge, lodge, lodge your BAS on time, every time.
- 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.
So please make contact with us today. We’d love to help you find a solution.
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David has over 15 years in the insolvency industry – advising clients through restructuring of their business. His clear, “straight up” style provides clients with a strong direction of what they need to do, and how the process will work. As importantly, he brings empathy to the process – which is essential at a “high-stress” time for clients.
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