Welcome, Guest
Username: Password: Remember me

TOPIC: Shareholder Liabillity

Shareholder Liabillity 8 years 9 months ago #3411

  • Max Harding
  • Max Harding's Avatar
  • OFFLINE
  • MSB Junior Member
  • Posts: 1
  • Karma: 0
Hi

Does a shareholder carry personal liability if the PTY LTD in which he is a shareholder has claims against it for whatever reason?
Last Edit: 8 years 9 months ago by Max Harding.
The administrator has disabled public write access.

Shareholder Liabillity 8 years 6 months ago #3593

  • Bandit
  • Bandit's Avatar
  • OFFLINE
  • MSB Junior Member
  • Posts: 12
  • Karma: 0
A person is not, soley by reason of being an incorporator, shareholder or director of a company, liable for any liabilities or obligations of the company, except to the extent that the Act or the company's memorandum of incorporation provides otherwise.
The administrator has disabled public write access.

Shareholder Liabillity 8 years 6 months ago #3594

  • Matthew Haddon
  • Matthew Haddon's Avatar
  • OFFLINE
  • Junior Boarder
  • Posts: 30
  • Thank you received: 8
  • Karma: 3
Hi Max

SARS may hold the representative taxpayer, i.e. The person whose responsibility it is to sign the tax returns personally liable for the outstanding tax liabilities of the company if they find the company shareholders drew income before settling all tax liabilities.

Regards,

Matthew Haddon
Simpletax
The administrator has disabled public write access.
The following user(s) said Thank You: Max Harding

 

Time to create page: 0.268 seconds