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Partly Limited Liability: Directors in the ATO sights

Published on 09 Mar 2005 | Took place at Holiday Inn Adelaide, SA

Are you aware of all the potential tax liabilities for directors of companies which are late in paying their tax liabilities and which are not fully protected by insolvency?

The Australian Taxation Office is becoming increasingly aggressive and is using its powers to seek recovery of outstanding amounts for GST and PAYG.

Learn about the interaction of the Tax and Corporations Legislation when it comes to insolvent companies. For example, did you know that directors provide a statutory indemnity to the Tax Commissioner if they come to an arrangement to meet their tax arrears and the arrangement fails?

This session highlighted the many significant and financially critical relationships between the Deputy Commissioner of Taxation and the insolvency practitioner so that you as business advisers will now how to respond to and deal with the ATO if a client falls into a default position with the ATO.

The session covered:
- Director Penalty Notices; what they mean, what timetables must be complied with and the impact of those
- Superannuation Guarantee Charge - The costs of the charge and the priority ranking of the claim
- unfair preferences - the ATO and how it deals with liquidator's preference claims
- Directors' double jeopardy.

Get a 20% discount when you buy all the items from this event.

Individual sessions

Are you preferred?

Author(s):  Ray MANSUETO

Topics covered in this paper include:

  • case study on preference to ATO
  • liquidator's approach to preferences
  • statutory defences
  • funding of claims
  • Section 222 AOE notices
  • gathering evidence to establish claim
  • recent cases.
Materials from this session:

Tax liabilities of directors

Author(s):  Tim CLIFTON,  Andrew HEARD

Topics covered in this paper include:

  • Section 222 Directors Penalty Notices - what to do if your client receives a notice
  • the attitude of the ATO to recalcitrant debtors
  • preference recoveries by a liquidator - double jeopardy for directors
  • Superannuation Guarantee Charge - where does this lie in an Administration
  • what your client should consider before entering into an 222ALA agreement with the ATO
  • ATO Freedom of Information demands - a useful tool for liquidators
  • issues for accountants to consider when advising clients on matters of insolvency.
Materials from this session: