Small Business Struggling with Tax Debt? Learn How to Navigate ATO Challenges
Are you a small business owner or sole trader juggling numerous responsibilities, from day-to-day operations to tax compliance? Despite your efforts, many small businesses find themselves facing tax debt challenges. Chief economist Anneke Thompson highlights the growing difficulty for small and medium businesses, notably with increased trade payment defaults exacerbated by elevated interest rates. Construction firms, professional services, food […]
Overcoming Tax Debt Stress: Strategies for Mental Well-being
When we mention “tax,” it conjures various emotions and reactions—from concern to headaches. We’ve all procrastinated or felt discouraged about tackling taxes. The complexity of tax systems and the financial burden can be overwhelming. According to the American Psychological Association, financial worries top the list of stressors for adults, with tax debt being a significant trigger for […]
Our Success Stories: The Impact Tax Assure Can Have on Your Business
Today, we are seeing an increase in Tax Debt at a record high level, combined with increased measures the ATO is taking to recover the debt. Now more than ever, we are committed to helping all businesses navigate tax debt. Our founding principle revolves around providing specialised tax debt services to alleviate the burden on businesses. […]
ATO’s Spilling the Tea on Tax Debt to Debt Collectors | Tax Assure
It has been well documented, that since the COVID pandemic the ATO have stressed the importance of businesses addressing their tax debts… and now they are spilling the tea to external debt collectors. Anthony O’Brien, Small Business and Personal Finance writer at Money Magazine, recently shared some valuable insights into the ATO’s actions. Some good points […]
5 Ways To Tackle Your Tax Debt In 2024 | Tax Assure
As we step into 2024, it is a chance to assess our well-being, both in terms of physical health, professional endeavors, and importantly our financial well-being. A huge amount of Australian individuals and businesses have outstanding tax debt. We know that dealing with tax debt can be daunting and highly stressful, therefore taking steps to resolve tax […]
ATO Firmer Action: Act now for positive tax debt resolution
At Tax Assure, we speak to the Australian Tax Office every single day. We’re on a first name basis with most of the crew in the various debt sections. So we often get helpful direct information about their areas of focus… and how best to work with those.
Sole Trader Success
An insolvency firm referred their client, a sole trader carpenter, to Tax Assure. The client had a tax debt of $150,000 with just under $9,000 in accumulated penalties and interest.
ATO returns to debt recovery as JobKeeper ends
Businesses are being forewarned that the ATO will be resuming debt recovery and compliance in the wake of Jobkeeper ending in March 2021, in a bid to start to recover the over $1.3B shortfall in tax compliance revenue target this year.
ATO refund: $218,500!
Our client has a successful nationwide commercial removals and storage business. Following a series of significant personal events, they found themselves with over $500,000 in ATO debt.
Small companies, big debt
An attendee to a webinar we hosted recently asked an excellent question: how much ATO debt is represented by SMEs?
Client success story | Medical
An accountant approached us about their clients, a GP couple with a 20 year history of tax debt. He had worked with them to manage the capital debt and to get them to a compliant position with the ATO.
Strange Days Indeed
If you live in Australia, the past 6 months is quite likely to have been the most bizarre time in living memory. Extreme heat, drought and catastrophic bushfires, followed by massive rainfall and widespread flash flooding. What a summer.
