Attention accountants. Don’t get blamed by your client when a DPN goes to the wrong address
The ATO’s ‘debt holiday’ is well and truly over, and it has moved past the warning phase and has been issuing a steady stream of director penalty notices (DPNs). As an accountant, there is a fair chance you act as the registered office for your client’s company. ...
Estate planning for sole directors of private companies
If you are the sole shareholder and director of a private company, have you thought about what will happen to your business if you lose capacity or die? Failure to plan for this eventuality can affect the financial viability of your assets and leave your family vulnerable – so it is something you need to turn your mind to. Fortunately, there are several solutions that are easy to implement and lots of advice about these issues is available.
Director Identification Numbers
In June 2020, legislation was passed to enable the rollout of Director Identification Numbers (DINs) for company directors. The Australian Business Registry Services (ABRS) is ready to start registering directors from November 2021.
How much notice do you need to give to call a directors/Board meeting?
The Corporations Act 2001 (Cth) does not specify a minimum notice period for the calling of a valid directors/Board meeting. All that is required under the Corporations Act is that each director must be given ‘reasonable notice’ of the meeting by the...