New law: the Director Penalty Regime extends to GST

New law: the Director Penalty Regime extends to GST

From 1 April 2020, the recently passed Treasury Laws Amendment Bill 2019 could make directors personally liable for their company’s unpaid taxes and can prevent a director’s resignation if the resignation were to leave their company without a director.  The law also seeks to improve the accountability of resigning directors by preventing directors from improperly backdating resignations.
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