Directors to be personally liable for unpaid GST from 1 April 2020
On 5 February 2020 the Senate passed The Treasury Laws Amendment (Combating Illegal ——>Phoenixing<———) Bill 2019.
In order to avoid personal liability for unpaid GST directors will need to ensure prior to 1 April 2020 they have done one of the following: Have the company pay the debt; or Have the company enter into a repayment arrangement with the ATO to repay the debt in full; or Consider the appointment of a liquidator or administrator.
