Beware: The ATO is enforcing late lodgment penalties
There has been a large spike in late lodgment penalties imposed by the ATO. Learn how to avoid a fine...
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In late 2023 and in 2024, we are seeing a significant shift in the ATO’s debt recovery approach, in particular regarding the issuing of director penalty notices (DPNs). It’s safe to say, the era of the ATO taking a more conservative approach to debt recovery during COVID is over!
When a company has an outstanding tax debt relating to superannuation guarantee, PAYGW and/or GST, the ATO can recover the debt by issuing a director of the company with a DPN. When the ATO issues a director with a DPN, the director becomes personally liable for the tax debt.
The DPN is issued to the director’s ASIC registered address by normal postal mail. The DPN is deemed to have been served on the date it is issued by the ATO.
There are two types of DPNs that can be issued to a director. A non-lockdown DPN and a lockdown DPN.
A non-lockdown DPN is a director penalty notice that is issued by the ATO to a director of the company for unpaid GST, PAYGW and superannuation guarantee in the following circumstances:
Importantly, where the ATO issues a non-lockdown DPN to a director, the director can avoid becoming personally liable for the unpaid tax debts of the company by placing the company into voluntary liquidation within 21 days of the date of the DPN.
In comparison to a non-lockdown DPN, a lockdown DPN is a director penalty notice issued by the ATO to a director of the company for unpaid GST, PAYGW and superannuation guarantee in circumstances where the company has not previously lodged its BAS or Superannuation Guarantee Charge Statements disclosing the tax debts by the above due dates.
Where the ATO issues a lockdown DPN to a director, he or she cannot avoid becoming personally liable for the unpaid debts of the company by placing the company into voluntary liquidation.
We have experienced Tax Advisors and Accountants who can advise you on how to avoid a director penalty notice, and what to do if you get a DPN.
Contact your BG Private advisor, or contact our Tax Advisory Partner, Tim Olynyk on +61 3 9810 0700 or and we can help.