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What are Director Penalty Notices? Director Penalty Notices (DPNs) are formal notices issued by the ATO to company directors who they believe have not complied with their obligations to remit either: These notices make directors personally liable for certain unpaid debts of a company. This means that if the company fails to meet these tax obligations, the ATO can recover…
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What is a Bucket Company? The concept of a bucket company is one that can be beneficial for business owners who are looking to protect their profits and minimise the amount of tax they pay. This strategy involves setting up a corporate beneficiary, also known as a ‘bucket company’ or ‘dump company’, to receive distributions from a trust of any…
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