Will going AWOL from your company save you money?

What happens if a sole director and shareholder goes AWOL – absent without leave?  If their company keeps trading but they take all the cash and walk away from all tax obligations – what happens then?

Imagine there is a sole director. And they don’t lodge any BAS. They don’t lodge any tax returns. Don’t pay any ASIC fees. They change their address and don’t tell ASIC or the ATO, and they keep trading – charging GST – despite the ATO cancelling their GST registration and despite ASIC deregistering their company. They just keep going and ignore all else.

This is the question Geoff Stein discusses in episode 276 of Tax Talks.

Click play above to listen or search for “Tax Talks” on your podcast provider and navigate to episode 276.

Should you have any enquiries please don’t hesitate to reach out to our tax team.

This article was published on Tax Talks 14 December 2020

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