DIRECTOR PERSONAL LIABILITY FOR GST

Industry insights

The Federal Government re-introduced legislation to parliament on 5 July 2019 which will provide for Director Penalty Notice (DPN) for Goods and Services Tax (GST) from 1 October 2019. This would operate in a similar manner to the existing Pay As You Go (PAYG) and Superannuation Guarantee Charge (SGC) DPN regime. Cor Cordis is monitoring the legislation closely and will advise its network if , and when the legislation receives royal assent (and becomes law).
This change is likely to have wide reaching implications as in our experience many companies will have a much greater exposure to GST than PAYG or SGC.

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