Nicholls & Co - Solely for Business Reconstruction and Insolvency

CHARTERED ACCOUNTANTS 

Solely For Bankruptcy,
Business Reconstruction
and Insolvency



ABN  53 711 565 245
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Director Personal Liability for PAYG Withholding Amounts

We have received a number of enquiries recently in regard to a directors potential liability when his or her company does not pay Withholding Amounts. Company directors do become personally liable for the unremitted PAYG Withholding Amount when the company fails to remit the required PAYG payment by the due date.

The personal liability only only becomes payable by the directors when the Commissioner of Taxation issues a “Penalty Notice” to the director(s) requiring payment of the PAYG amounts unpaid by the company. Upon receiving the Penalty Notice, company directors can avoid personal liability if they act quickly and take the right steps.

There are a number of traps that need to be avoided when dealing with a Penalty Notice. See our Fact Sheet which summarises actions to be taken by a company director when he or she receives a “Penalty Notice”.

Should you have any questions on the issue do not hesitate to email Alan Nicholls at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

 

Bankruptcy Advice

Nicholls and Co - Soley for Business Reconstruction and InsolvencyFred Appleton specialises in assisting those in financial difficulty through the process of filing for bankruptcy. We highly recommend his services. For more information see his website.
www.fredappleton.com.au 

Forms

ATO Notices


Lismore Office

Nicholls and Co - Soley for Business Reconstruction and InsolvencySuite 3, 1st Floor The Strand Arcade
74-78 Molesworth St
LISMORE NSW 2480
Ph: (02) 6622 0994
Fax: (02) 6622 0996
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Bathurst Office

Nicholls and Co - Soley for Business Reconstruction and InsolvencySuite 2 160 Rankin Street
BATHURST NSW 2795
Ph: (02) 6331 0564
Fax: (02) 63310963
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Dubbo Office

Nicholls and Co - Soley for Business Reconstruction and InsolvencySuite 2 22 Church Street
DUBBO NSW 2830
Ph: (02) 6885 6156
Fax: (02) 6885 4394
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Tamworth Office

Nicholls and Co - Soley for Business Reconstruction and InsolvencySuite 6
459 Peel Street
TAMWORTH NSW 2340
Ph: (02) 6766 9245
Fax: (02) 6766 9263
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