Company Directors are now personally liable for unpaid GST

Under a new legislation passed on 5 February 2020, company directors will have personal responsibility to ensure timely payment of the GST arrears. If the GST is not paid, the ATO has the power to issue Director Penalty Notices (DPNs) to make them personally liable. The new law is likely to take effect from 1 April 2020.

Small business owners will be the hardest hit by this legislation, in our opinion. As it is, they are juggling too many balls at the same time.