Running a successful business is hard work—and sometimes, despite best intentions, tax obligations slip. If the business is being operated through a company structure, then the ATO can potentially issue a Director Penalty Notice (DPN), holding company directors personally liable for unpaid taxes.

Leaving debts outstanding with the ATO is now more expensive for many taxpayers.

The personal income tax cuts legislated to commence on 1 July 2024 will be realigned and redistributed under a proposal released by the Federal Government.

An automated penalty is created for directors of a company the end of the day that their obligation is due. A Director Penalty Notice (“DPN”) is issued when no payment has been received for PAYG withholding and/or superannuation (SGC) debts within 3 months of the due date for lodgement.

The Australian Taxation Office (ATO) has issued a suite of draft guidance documents and a Taxpayer Alert on the topics of Section 100A and Division 7A of the Income Tax Assessment Act. The documents focus on arrangements commonly seen in family and private groups, and are likely to have significant impacts on the way trusts distribute income to ben...