Being a company director comes with serious responsibilities and personal risks. Darren Vardy explains director duties under the Corporations Act, the dangers of insolvent trading, and why being a "director in name only" can be extremely dangerous. Critical knowledge for anyone considering or currently holding a directorship.

Key Topics Covered:

• Director's duties under the Corporations Act
• Personal liability for unpaid superannuation
• Director penalty notices for GST and PAYG
• Insolvent trading risks and consequences
• Why "director in name only" offers no protection
• Real-life scenarios of director's personal exposure

Key Takeaways:

• Directors are automatically liable for unpaid company superannuation
• Director penalty notices can create personal liability for tax debts
• Insolvent trading can result in personal liability for company debts
• Being a director requires active involvement and compliance monitoring

Who Should Listen:

Company directors, business owners considering incorporation, spouses listed as directors, board members of not-for-profits, and professional advisors.

Who Should Listen: Business owners, company directors, lawyers, accountants, and anyone wanting to understand financial distress warning signs.

About the Host:

Darren Vardy - Managing Director of Insolvency Options and Registered Liquidator with over 30 years of experience in business recovery and debt solutions. Darren has helped thousands of businesses and individuals navigate financial distress and find practical solutions to complex problems.

Connect With Us:

• Website: insolvencyoptions.com.au  • Phone: 1800 463 328 • LinkedIn: https://www.linkedin.com/in/darrenvardy/

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Co-host: Anthony Perl

Produced by: Podcasts Done For You