ATO’s Approach to GIC Remission; It is Now Tougher than Ever
In early 2026 the Taxation Ombudsman released a review into the ATO’s decision making process in relation to the remission of General Interest Charge (GIC) to taxpayers....
PAST ARTICLES
ATO Departure Prohibition Orders: How the ATO Can Stop You Travelling
The Australian Tax Office (ATO) has broad powers to stop individuals from leaving Australia using Departure Prohibition Orders (DPOs). These orders are a strong enforcement tool used to compel payment of outstanding tax debts or force engagement with the ATO....
Options Available For Individuals to Deal with Tax Debts
The most common options for individuals to deal with tax debts are: Pay the debts in full, Bankruptcy, A Personal Insolvency Agreement (PIA)...
Options for Companies to Deal with Tax Debts
The most common options for companies to deal with tax debts are: Pay the debts in full, Small Business Restructuring (SBR), Liquidation...
How we settled a $246,000 debt for $30,000
We successfully negotiated a client's $246,000 debt down to $30,000. The client, personally liable for her failed business's lease debts, faced bankruptcy or debt settlement. We offered $30,000 over time, which the landlord eventually accepted. The funds will come from our client's husband, who will acquire her $20,000 Landcruiser. Our client was thrilled with the outcome. Need debt settlement help? Contact us for a free consultation....
How do you liquidate your company
Liquidating your company involves appointing a Liquidator to sell the company's assets and distribute the proceeds to creditors. Shareholders typically resolve to place the company in liquidation, either by unanimous agreement or through a special resolution at a shareholders' meeting. The Liquidator will then handle the liquidation process, with your assistance in providing records and information. Costs vary depending on the company's assets, but upfront fees are usually required if assets are limited. For more information or assistance with liquidation, contact our Brisbane or Gold Coast office....
ATO issuing nearly 200 director penalty notices a week
The ATO has however, started taking recovery action to recover tax debts owed. This has included issuing a large number of director penalty notices and beginning to disclose business tax debts to credit reporting agencies....
ATO to start issuing Director Penalty Notices again
Throughout the Covid-19 pandemic the ATO has mostly ceased taking any type of recovery action to recover debts which it was owed. Recently, the ATO’s approach to debt collection is changing and we have seen a number of warning letters from the ATO....
When will the ATO start issuing GST Director Penalty Notices?
The ATO has had the ability to issue Direct...
ATO focusing on recovery of unpaid super and large tax debts
Collectable tax debt has significantly increase to nearly $40 billion. The ATO is starting to target recovery. ...
ATO Director Penalty Notices; A simple summary of how they apply
The ATO can make company directors personally liable for unpaid GST, PAYG Tax and superannuation. The ATO does this by issuing directors with Director Penalty Notices....
Total Collectable Tax Debt Increases to $38.5 Billion
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. ...
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