Why Accountants Need to Partner with Tax Debt Specialists
In my 11 years as a tax debt negotiator, I’ve seen how complex and stressful ATO enforcement actions can be for businesses. As accountants, you’re often the first point of contact for clients facing tax debt. While you’re experts in financials, tax advice, and compliance, tax debt is a different beast altogether. With ATO enforcement […]
Tax Debt Conundrum: Sizing Up A New Opportunity for Brokers
Tax debt is an ever-growing concern for Australian businesses, and in today’s volatile economic landscape, it’s becoming a key barrier to business success. For brokers, this presents both a challenge and a unique opportunity. Understanding tax debt, its implications, and how to navigate it is no longer just an optional skill—it’s essential to your role […]
Effective ATO Debt Renegotiation Strategies
One of the biggest challenges many businesses face when dealing with tax debt is the upfront payment requirement from the Australian Tax Office (ATO). This can often push businesses into further financial strain, especially if they are already dealing with external pressures like supply chain issues or staffing shortages. Recently, we worked with a commercial air […]
Can a director become personally liable for a company’s unpaid taxes and how can you avoid this?
As the director of a company, you are responsible for ensuring that the company meets its ATO
obligations, including its pay as you go withholding (PAYGW), goods and services tax (GST) and
superannuation guarantee contribution (SGC) obligations.
Is the ATO dropping a bomb on SMEs?
Back in August 2019 (which feels about a million years ago given what’s happened since!) we brought you news of the ATO’s intention to report business tax debt to credit rating agencies, and warned of the serious problems that could cause businesses wanting to borrow money in the future.
ATO Collectable Debt Rises to $34.1billion…
The numbers are out. And ATO collectable debt is up by a whopping 30%. This is not a surprise to most of us. In fact, the more worrying thing is how much ATO debt is NOT included in this number…
SGC and DPNs from the ATO: clear as mud?
It’s no secret that the ATO is looking to tighten-up their Director Penalty regime around Superannuation Guarantee (SG) obligations.
