Changes to Director Penalty Notices go un-noticed
Posted On: 18th January 2021
Among all of the changes during the past 12 months to the business landscape in Australia, a critical change for Directors’ personal liability may not have been as widely talked about as it otherwise would have.
Among all of the changes during the past 12 months to the business landscape in Australia, a critical change for Directors’ personal liability may not have been as widely talked about as it otherwise would have.
The Treasury Laws Amendment (Combating Illegal Phoenixing) Act 2020 received Royal Assent on 17 February 2020. The Act includes changes to the current Director Penalty Notice (DPN) regime in respect to a company director’s personal liability for specific unpaid taxation liabilities. These changes became effective on 1 April 2020.
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