Director liability under GST: directors can be jointly and severally liable for unrecoverable tax unless excused. Where tax, interest or penalty for supplies cannot be recovered from a private company, every person who was a director during the relevant period is ... Summary
Director liability under GST: directors can be jointly and severally liable for unrecoverable tax unless excused.
Where tax, interest or penalty for supplies cannot be recovered from a private company, every person who was a director during the relevant period is jointly and severally liable unless he proves the non-recovery is not attributable to gross neglect, misfeasance or breach of duty. On conversion of a private company into a public company, subsection (1) does not apply to directors for unrecovered amounts, but personal penalties imposed on a director remain applicable.
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