Your duties as director are usually to your shareholders. However, if your company is insolvent (or may be insolvent in the near future) those duties expand to include creditors such as trade creditors, the Australian Tax Office (ATO), banks and employees.
Topics: Director Advice, Business Debt
If a company fails and is placed into Liquidation or Administration, suddenly, there may be another company with a very similar name that starts trading, providing similar (or even the same) goods and services.
Topics: Director Advice, Turnaround & Restructuring, Business Debt, small business restructuring
he Australian Taxation Office has a variety of tools they can use to recover ATO debt from a company. If your company owed the ATO any Pay as You Go Withholding (PAYGW) or Superannuation Guarantee Charge (SGC), the ATO can send a director of a company a Director Penalty Notice (DPN).
Topics: Tax Debt, Director Advice, Business Debt
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