The director penalty regime under Division 269 to Schedule 1 of the Taxation Administration Act 1953 (Cth) empowers the Commissioner to take action against an insolvent company’s directors to recover outstanding tax debts of a company. The director penalty regime was introduced as a substitute for the Commissioner’s tax priority in a corporate insolvency and was aimed at encouraging directors to take early positive action to deal with insolvency. In her article published this month, ROCIT deputy-director Sylvia Villios conducts an analysis of Australia’s director penalty regime, including the most recent reforms, which reveal that the regime helps to foster a culture of good corporate governance which is fundamental to achieving successful corporate rescue post insolvency. Sylvia’s article can be viewed at:

Revenue Law Journal home page: http://epublications.bond.edu.au/rlj/

Article Abstract page: http://epublications.bond.edu.au/rlj/vol25/iss1/2

Full article: http://epublications.bond.edu.au/cgi/viewcontent.cgi?article=1249&context=rlj