Directorial liability for unpaid GST: directors of wound-up private companies can be jointly and severally liable unless excused.

Liquidators must notify the Commissioner within thirty days of appointment; the Commissioner shall, after inquiry, notify within three months the amount sufficient to cover any tax, interest or penalty payable by the company. For a wound-up private company, directors who held office during the period of the tax liability are jointly and severally liable for unpaid tax, interest or penalty unless they satisfy the Commissioner that non-recovery is not attributable to gross neglect, misfeasance or breach of duty.

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