On 29th June 2012, the government amended the Tax Laws to crack down on phoenix operators.
Previously Company Directors could avoid personal liability if:
- The company’s liability was discharged; or
- The company is placed into administration; or
- The Company is wound up and a liquidator is appointed;
within 21 days from the date of the issue of a Director Penalty Notice.
The major change provides a much tighter time frame for Directors to avoid personal liability for outstanding superannuation and PAYG tax. If the liability for ...Continue Reading →