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Director Penalty Regime Webinar

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Protecting clients from being personally liable for company debts

What can trigger a director penalty notice
Steps that can be taken to reduce the impact on clients
Key timing issues

A Live Instructor Led Webinar

The scope of the director penalty regime - which enables the ATO to recover certain liabilities directly from current and former company directors - has expanded significantly in recent years, increasing the risks associated with acting as director of a company.

The Director Penalty Regime Webinar looks at the types of liabilities that fall within the scope of the director penalty regime and when the rules are triggered. We explore the steps that can be taken to improve the likelihood of penalties being remitted and the key timing rules that need to be considered. We also look at practical steps that clients should take before agreeing to act as director of a company.

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AU $195 members
AU $235 non-members

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Register Team*

AU $520 members
AU $595 non-members

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Knowledge Shop members, login for the discounted rate.

Total 1.25 CPD Hours

Details

Recorded: 10 November 2022

FPA accredited for 1.25 CPD hours (30240)

  • 1.0 Tax (financial) advice
  • 0.25 Regulatory compliance and consumer protection

Terms & conditions: All registrations to Knowledge Shop events are subject to our terms and conditions which include a cancellation policy. No refunds are provided for cancellations received 1 day prior to the webinar. No credits are available less than 2 hours prior to the event under any circumstances.

*Office Registrations. Maximum 20 participants per firm (must have same email domain). The PD points for all attendees will be recognised and links will be provided to all attendees.

Our presenters

Principal, BRI Ferrier

Peter Krejci

Peter KrejciPeter is a principal of BRI Ferrier, a registered liquidator and has practiced in business reconstruction and insolvency for over 25 years. His advice is regularly sought by a deep pool of accountants, lawyers, financiers, corporate advisors and the like to assist companies in financial distress.

Peter is known for his nuanced perspective in formulating restructuring plans that maximise the chances of companies surmounting their financial challenges.

Peter is on the ATO’s panel of preferred insolvency practitioners and is regularly appointed by the ATO to Liquidations in circumstances where the ATO has concerns around phoenix activity and to replace incumbent liquidators on matters where the ATO is the largest creditor.

Tax Director, Knowledge Shop

Michael Carruthers

ProfileMichaelCarruthersMichael is an adviser, author, in demand presenter, mentor to Knowledge Shop’s technical team, and is well known for his capacity to translate highly technical information into tangible and useable advice for the profession. He has a knack for seeing through the complexity and helping advisers work through highly technical issues with certainty and accuracy.

Michael works with advisers every day to help them negotiate and implement the constant tide of change impacting the industry. He is a member of the advisory panel for the Board of Taxation and is a member of the reference group for the Board’s review of small business concessions.

He was also an expert panel member for the Board’s review of tax impediments facing small business.

What we cover

We examine the key features of the director penalty regime and the practical impact on clients, including:

What's included?

  • 1 x 1.25 hour (est.) webinar
  • 3 month access to Q&A embedded webinar recording
  • Reference notes
  • What is a director penalty notice (DPN)?
  • The liabilities of a company that fall within the scope of the director penalty regime
  • When is the ATO able to issue a DPN?
  • What if I am a new director?
    • What to check before becoming a director of a company
    • Steps that can be taken by new directors to avoid becoming liable for existing company debts
  • What if I am a former director?
    • How the rules apply when an individual resigns as director of a company
  • Where will the ATO send the DPN?
  • How the ATO can recover director penalty liabilities from directors
  • Remittance of the director penalty
    • When director penalties can be remitted?
    • What actions do directors need to take for a DPN to be remitted
  • Defences relating to director penalties and how to approach the ATO
  • What if the company has been deregistered?
  • Are payment plans a good idea?
  • Are traditional DPNs and lockdown DPNs separate actions by the ATO?
  • What steps should a director take if they receive a DPN?
  • Restructuring case study – Appointing an Administrator as a solution for a director to avoid personal liability arising under a DPN.