Director Penalty Notices – Promoting a Culture of Good Corporate Governance and of Successful Corporate Rescue Post Insolvency

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:

Article Abstract page:

Full article:


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