Received a
DIRECTOR
PENALTY NOTICE?

If you’ve received a Director Penalty Notice you must act now to protect yourself from personal liability.

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    There are Two Types of DPN

    Director Penalty Notices are confusing!

    21day dpn icon

    Director Penalty Notices

    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

    lock down dpn

    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 needs to take action to save the business and ensure no further personal liability

    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, Superannuation or GST 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!

    personal liability
    Corporation Act

     

    That sounds bad!! Are there solutions?

    Absolutely! 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.

    Dissolve Provides Free Advice

    How does Dissolve provide the advice

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    At Dissolve, we specialise in providing fast, easy and professional advice to directors with companies facing financial difficulties. That can take 5 minutes or continue as long as you like.
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    We are happy to meet with you if you want, but there is usually no need.
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    You are dealing with a firm of highly experienced experts, with professional qualifications including Chartered Accountants, Registered Liquidators, Members of Australian Restructuring & Turnaround Association and Turnaround Management Association.

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    You are NOT dealing with unqualified “pre-insolvency advisors” (you may have read about them in the media).

    icon fast easy and cheap

    FAST, EASY AND
    CHEAP

    icon free advice

    FREE
    PHONE ADVICE

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    AUSTRALIA – WIDE
    SERVICE

    Our Solutions

    What sort of solutions are there?

    At Dissolve we are experienced in providing a range of solutions. We’ve listed a few below.
    But there are a whole range of possibilities.

    administrator liquidation

    Voluntary Administration

    Saving your company and
    avoiding personal
    liability through a Voluntary
    Administration.

    payment

    Payment

    Organise a Payment Arrangement
    for the Company with the ATO –
    there are some tricks to
    this option so caution is needed

    restructuring

    Restructuring

    Restructure the company
    which could involve using “Safe
    Harbour” legislation or
    implementing asset protection
    strategies.

    Still confused?

    Yes that’s understandable. It’s a complicated area. In fact, we’d say you are unlikely to be able to understand all of the issues yourself. You will need advice from an insolvency expert.

    Why Choose Us?

    Expert advice from experienced liquidators

     

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    At Dissolve, we specialise in providing
    advice to small and medium size
    companies and directors of those
    companies.

    icon experienced professionals

    Over each of the last 8 years we have provided advice to over 300 directors – we have the experience and industry knowledge to know the best way forward.

    icon genuine service

    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.

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    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

    Liquidation 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.

    1300 043 364