In this weeks TGIF, we examine the recent case of Mandalinic v Stone (Liquidator) [2023] FCAFC 146 which provides useful guidance as to the ability of a director to challenge an insolvent companys PAYG liability.
Key takeaways
- A director cannot rely on an affidavit in proceedings relating to their personal liability under a directors penalty notice to reduce or revoke an estimate given by the Commissioner to the company pursuant to section 268-40 of the Taxation Administration Act 1993 (Cth).
- Where a company is in liquidation, a director may swear an affidavit or make a statutory declaration under section 268-40 to challenge an estimate given by the Commissioner.
- However, when a company is in liquidation, it is ultimately a decision fo…
Read the full article at: https://www.corrs.com.au/insights/director-of-insolvent-company-unable-to-challenge-companys-payg-liability