Liquidator notification requirement enables assessment of sufficient GST liability security during company liquidation by the tax authority.

The liquidator must notify the Commissioner of appointment, after which the Commissioner may inquire and notify an amount deemed sufficient to secure any tax, interest or penalty payable by the company. If tax cannot be recovered from a wound-up private company, every person who was a director during the relevant period is jointly and severally liable for such unpaid amounts unless he proves to the Commissioner absence of gross neglect, misfeasance or breach of duty.

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