Pausing Director Penalties
Submission letter to The Hon Dr Jim Chalmers MP, Treasurer
UDIA National is a strong supporter of the Government’s housing and economic initiatives. We are also acutely aware of the growing financial hardship that continues to undermine the supply of housing, which in turn is threatening to collapse Australia’s small business subcontractor industry.
Contractor and developer small businesses are trying to keep themselves afloat with the cash available to them and balance payment of due debts. Industry needs a pause before essential businesses break.
The immediate solution is a pause on ATO DPNs as a straightforward measure that will address the critical situation facing building contractors. This approach does not incur any additional expense to Government as it only alters timing of payments. This would be akin to the arrangements in place during the COVID-19 pandemic.
Our full submission can be found via the download link below