Business Development &
A Director or officer of an Australian company is liable and responsible for:
- Debts incurred while company is insolvent.
- Debts incurred that cause company to be insolvent.
- Unpaid PAYG (Employee withholding taxes) tax installments.
- Penalties as a consequence of a company committing a tax offence.
- Any tax penalty imposed on a personal basis.
- Criminal penalties if they are part of a scheme to defraud the revenue.
- Companies federal or state tax mistakes.
- Failure of the company to maintain appropriate levels of workers compensation insurance. Penalty is equal to twice the premium that would have been payable pursuant to Section 156B of Workers Compensation Act.
- The trade practices legislation.
- Environmental law.
- Environmentally Hazardous Chemicals Act 1985 (NSW).
- Equal opportunity.
- Taxation and the new privacy principles.
- Occupational health and safety agencies.
- Pollution control agencies.
- Consumer affairs agencies.
- Drug and medical evaluation authorities.
- Any personal liability that may be imposed by statutory provisions such as sections 82, 229A and 556 of the Companies Code (Corporations Act, ss186, 233 and 592 respectively).
- Provisions in other legislation.
- A multitde of taxes. Governments in Australia levy at least 125 different taxes including; Personal Taxes, Company Tax, Goods and Services Tax, Fuel Exercise, Payroll Taxes, Conveyence and Stamp Duties, Superannuation funds, Tobacco Exercise, Frindge Benefits Tax, Gambling Taxes, Insurance Taxes, Beer and Spirit Excises, Customs Duties, Motor Vehicle Taxes, Crude Oil Excise, Agricultural Levies and numerous other taxes and levies.
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