The ATO’s recent report on its activities for the 2021 financial year has shown that total tax debt, which the ATO considers is collectable, has increased to $38.5 billion. This compares to $26.5 billion for the 2019 financial year. ...
The ATO can issue Garnishee Notices to debtors who owe money to a company. But how does the ATO know who owes your company money and how do Garnishee Notices issued to debtors work in practice?...
The ATO is aiming to compel businesses with significant overdue tax debts to comply with their tax obligations, by using credit agencies....
If you owe an ATO debt you can’t pay, you can seek to negotiate a payment arrangement with the ATO. If the ATO refuses to enter into a payment arrangement, then it may be an option to offer the ATO security to support the payment arrangement. ...
If our client had contacted us earlier, we could have advised him of how to deal with his tax debt and the risks involved....
This is Case Study of what happened to a client when the ATO issued a Garnishee Notice to their bank. And what our client should have done to avoid the risk....
Back in March 2020, the Federal Government rolled out the JobKeeper scheme. The scheme was intended to assist businesses that were financially impacted by the by the Covid-19 pandemic. ...
Is liquidation necessarily bad? Should you avoid liquidation at all costs? Or can liquidation actually be the best thing for your company? This article looks at the key issues of company liquidation....
The ATO has implemented COVID-19 Support Measures to ease the burden of tax debts during this time. ...
Our client could have avoided Director Penalty Notices and the liability involved. Contact us before it's too late. ...
On 6 March 2020, the Federal Government introduced a Superannuation Guarantee Charge (SGC) amnesty. The amnesty allows employers to disclose and pay previously unpaid SGC whilst taking advantage of some benefits. ...
The coronavirus has had a massive impact on businesses. Whilst there are various government support schemes in place, many businesses have been losing money and one of the first things that businesses stop paying are tax debts. ...
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