Payroll tax considerations for restructuring and insolvency professionals

WHO SHOULD READ THIS

• Restructuring and insolvency professionals.

THINGS YOU NEED TO KNOW

• Understanding liabilities from a payroll tax perspective can be complex, particularly due to the broad nature of the grouping provisions.
• Unless care is taken situations may arise where restructuring and insolvency professionals will be grouped with client entities, potentially exposing personal entities to joint and several liability for client entity debts.

WHAT YOU NEED TO DO

• When providing advice and acting for clients, consider the potential application of the payroll tax grouping provisions and seek advice as necessary to manage any potential exposure to understating liabilities and/or being jointly and severally liable for client entity debts.