An accounting firm referred their client, a transport and logistics company, to Tax Assure with a tax debt of just under $250,000. Almost $40,000 of that was penalties and interest.
With no payment arrangement in place, the client was at risk of garnishee notices, statutory demands and DPNs. The accounting firm had talked to the ATO who would only offer a repayment option over 14 months. The client knew this would not be sustainable for them; they would end up defaulting and facing the same pain again.
On alerting the ATO of Tax Assure’s involvement, we obtained a halt in debt recovery action for a week, so we could assess the situation and devise a solution.
Having understood the client’s position (the background to the debt, their capacity for future repayments) we negotiated with the ATO and agreed a much more viable 36 month repayment plan. We are now working on obtaining a full refund of the penalties and interest part of the debt.
Not only was the client delighted – a workable plan, and a load off his mind – our accounting referral partner was too; as an extension of his team, our specific expertise, skill and knowledge meant he got the best outcome for his client. Win-win.
Tax Assure as a “virtual extension” for our partners is a great way to think of the service we offer through our referrer network; it really is a direct value-add from you to your client.
Fiona is a B2B marketing specialist, with particular expertise in SME finance and technology. Having spent 15 years in London as a partner of an award-winning integrated marketing agency, she combines innovation and creativity with commercial pragmatism. A powerful strategic thinker, Fiona leads her team with energy and drive.