The Australian Taxation Office (ATO) holds a special suite of powers beyond the usual debt recovery strategies that sets them apart from traditional creditors. And in recent years those powers have been expanded.
These days, if your company has debts such as Pay as You Go Withholding (PAYGW) or Superannuation Guarantee Charge (SGC), the tax office can send you a Director Penalty Notice (DPN).
We’ve created this short video that explains what they are, what they mean, and three ways to reduce your chances of ever getting them. It’s only two minutes long, and tells you everything you need to know about DPNs.
And if you receive a DPN, get in touch with us as soon as you can. Our team of insolvency experts can give you a range of options, and help you choose the best way to revive your business.