With Payday Super now in effect and the first FY27 superannuation payment deadlines having passed, that uncertainty remains. While the ATO has introduced the Voluntary Disclosure Statement process for reporting unpaid superannuation obligations, it has not yet clarified what constitutes timely reporting for the purpose of determining whether a DPN is capable of remittance or becomes a lockdown DPN.

Division 7A issues commonly arise in private groups, particularly where trusts and related party loans are involved. Most accountants understand the framework, but the detailed rules are prescriptive and easy to misapply. In insolvency appointments, these issues often surface during reconstruction of historical transactions and can create significant deemed dividend exposure if not addressed early.

This case study outlines how coordinated management and targeted engagement with the ATO resolved long standing Division 7A breaches and avoided a substantial personal tax exposure for shareholders.

Businesses suffering from rising fuel costs may consider the attractive terms of the ATO’s Fuel Response Payment Plan as quick and relatively easy way to improve cashflow, but there can be significant downstream risks to the business and Directors.

Other than temporary fuel tax relief, the Commonwealth Government has announced two relief packages for Australian businesses grappling with the impacts of the Persian Gulf Oil Crisis:

1. ATO Fuel Response Payment Plan; and

2. 2 Year Interest Loans under the Economic Resilience Program.

Article published in the Courier Mail Thursday, 15th September 2022.

After pausing its pursuit of unpaid taxes while jurisdictions were coping with COVID-19 outbreaks and lock downs, the ATO has started to chase debts again. So far, the ATO has targeted New South Wales, Victoria and the ACT.

From 1 November 2021, the Federal Government has implemented a new layer of accountability for company directors. Directors are now required to obtain a Director Identification Number, which will assist regulators and others to correctly identify the directors of companies