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TOPIC: Shareholder Liabillity

Shareholder Liabillity 11 years 3 weeks ago #3411

  • Max Harding
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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: 11 years 3 weeks ago by Max Harding.
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Shareholder Liabillity 10 years 10 months ago #3593

  • Bandit
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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.
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Shareholder Liabillity 10 years 10 months ago #3594

  • Matthew Haddon
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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
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