WA Ato capital gain tax for company

[Bald1974]

Hi, about 6 years ago i sold my business on going on concern and made profit but never lodged income tax for the company.
My abn is cancelled and my company is deregistered.
I am too scared to call ato and ask them if i own any money.

Will i be personally liable for CGT for a company?

 

[Tim W]

Hard to say without knowing all the back story,
but I'm inclined to think... "yes".

 

[Bald1974]

It depends if u sold the shares in the company or just sold the business within the company

I jusy sold the business
Thanks

 

[Bald1974]

So u sold the business under a contract of sale and the new purchaser bought it under their company name right?

I really sorry for confusing.
Yes
I sold the business with contract of sale.
The buyer bought it with their own company name.
My company name has been deregistered and my abn has been canceled.
I set up my business from scratch and cost me around $200 k to set up and i sold it for $500 after 2 years.
So i dont really know what tax obligations i have and if i do have i am about to be bankrupt personally because of my personal loans .
If i have any company debt with ato( i dont know if i have or not because it has been 6 years ago i sold the business)
Should i also liquidiate my company and add my potential tax debt to my bankruptcy OR because i will declare bankruptcy, it will clear whatever company debt could be issued in the future..
i also heard directors are not liable for company tax except superannuation debts