Your clients may already have a lockdown DPN, they just don't know it yet

Lodge your SGC on time, or a lockdown DPN is imminent.

Back in the good old days, the director penalty regime only applied to unpaid pay as you go (PAYG) amounts owed by a company. As time passed, mounting superannuation debts prompted the Australian Taxation Office (ATO) to expand the director penalty regime to incorporate superannuation. These reforms were enacted way back in 2012. Not only did these reforms incorporate superannuation into the director penalty regime, they also brought with them a new concept. Directors can no longer avoid liability for a director penalty where a debt remains unpaid and unreported for a period of 3 months from the due date for reporting of that debt. This has become colloquially known as a 'lockdown director penalty", where placing a company into an external administration appointment won't result in that penalty being remitted.