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There are Two Types of DPN
Director Penalty Notices are confusing!
21 Day DPN
A “DPN” may give you 21 days to take specific actions – do nothing and you are personally liable for some of the tax debt of the company.
So what? A director will need to take action to save the business of the company and to avoid personal liability
Lockdown DPN
There is a “lockdown DPN” which means you are already personally liable for some of the tax debt of the company
So what? A director should still take action to save the business and ensure no further personal liability.
21 Day and Lockdown DPN
“OR” You may get both in one letter
Confused? Yes the Notices are very confusing. Check out our Graphic to get a better understanding of a DPN
So, what does
“Personal Liability” mean?
If a company has a tax debt then it is just that – a debt due by the company and not the director’s personal debt. But if some of that debt is for staff PAYG deductions or Superannuation then the ATO can make those amounts the director’s personal debt.
The ATO makes a director liable by simply sending a Notice by mail – no Court action or Lawyers are required!
Does that mean your house is potentially on the line – yes!
DPN Solutions Provides Free Advice
How does DPN Solutions provide the advice
FAST, EASY AND
CHEAP
FREE
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Our Solutions
What sort of solutions are there?
There are a number of actions that can be taken to either avoid the personal liability or reduce its impact.
But the opposite is also true – if you do nothing then you will become personally liable for the tax debt.
Restructuring
Options include:
ATO Negotiations; Restructure the company; Use Safe Harbour legislation; Asset Protection strategies.
Voluntary Administration
Saving your company and avoiding personal liability through a Voluntary Administration.
Liquidation
Sometimes it is better
to liquidate the company.
Payment Arrangement
Organise a Payment Arrangement for the Company with the ATO – there are some tricks to this option so caution is needed
Credentials
Our professional memberships
DPN Solutions is a fully accredited Chartered Accounting firm. We have in-house experts who are Registered Tax Agents with the ATO.
Chartered Accountants Australia & New Zealand
ATO Registered Tax Agents
Turnaround Management
Associations
Members in-house
Association of Independent
Insolvency Practitioners
Board Member in-house
Australian Restructuring Insolvency & Turnaround Association
Members in-house
Why Choose Us?
Expert advice from fully qualified advisors
We specialise in providing advice to small and medium size companies and directors of those companies.
Over each of the last 8 years we have provided advice to over 800 directors – we have the experience and industry knowledge to know the best way forward.
In around 50% of calls we receive from directors, we are able to provide free advice over the phone that gives the director a specific way forward – that is we are not there to sell our services – we provide genuine advice for the situation.
If we do recommend you use our services we will be clear on what that will cost you – in most cases we’ll provide a specific fixed quote so you know what it will cost, what we will do for you and what will be the potential savings to a director and their company.
Contact Us
Tax law can be a complex area and circumstances vary, so we recommend a telephone call for your initial consultation. We will then gladly meet you or just confirm our advice and quote in writing.
Please either give us a call or submit the form and we will get back to you.
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