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Tax Assure's Michael Moon & Cate Kemp from The Control Room met for a conversation about the relationship between keeping on top of balance sheets & staying compliant with the ATO. An understanding of your balance sheet is one of the greatest business hacks - there is a difference between runnning in the black and remaining compliant -------------------------------- If you or your business is struggling with tax debt, drop us a line at: hello@taxassure.com.au ph. 1300 952 295 https://www.taxassure.com.au -------------------------------- Cate Kemp The Control Room https://catekemp.au/the-control-room/ email: cate@catekemp.com.au -------------------------------- #ATO #taxdebt #BalanceSheets Disclaimer: The information provided in this video is for general informational purposes only and does not constitute professional advice. While we make every effort to ensure the accuracy and relevance of the content, it should not be relied upon as a substitute for consultation with qualified professionals, including legal, financial, or tax advisors. Each business situation is unique, and we recommend seeking tailored advice that considers your specific circumstances before making any decisions regarding tax debts, insolvency, or related matters. Tax Assure and its authors disclaim any liability for actions taken or not taken based on the content of this video.
Why SME owners need to understand their balance sheet | Michael Moon & Cate Kemp
Tax Assure' principals Michael Moon & Olga Koskie got together to talk about the state of ATO debt across Australia at the end of 2025. Olga & Michael discussed how many business owners tend to get a little slack with ATO payments over the summer break. Cashflow tightens, invoices tend to get paid a little late - but if you are in arrears with the ATO and default on your payment plan, this can only make your situation that much more uncomfortable. Penalties accrue, interest accumulates and many come back to work in the new year facing a much bleaker outlook. Defaulting on your BAS can also invalidate a payment plan, and this can result in a chain of recovery actions being implemented by the ATO. If you engage a tax debt negotiation a professional and engage with the ATO now, you'll likely come out in a much healthier financial (and mental) position. -------------------------------- If you or your business is struggling with tax debt, drop us a line at: hello@taxassure.com.au ph. 1300 952 295 https://www.taxassure.com.au -------------------------------- #ATO #taxdebt #ATOPaymentPlan Disclaimer: The information provided in this video is for general informational purposes only and does not constitute professional advice. While we make every effort to ensure the accuracy and relevance of the content, it should not be relied upon as a substitute for consultation with qualified professionals, including legal, financial, or tax advisors. Each business situation is unique, and we recommend seeking tailored advice that considers your specific circumstances before making any decisions regarding tax debts, insolvency, or related matters. Tax Assure and its authors disclaim any liability for actions taken or not taken based on the content of this video. 00:00 - introduction to ATO debt at the end of 2025 01:04 - A hairdressing salon with ATO warnings proceeded without a payment plan and the ATO imposed recovery actions 02:20 - A mortgage broker with good cashflow ignored her ATO debt until they took action against her 03:40 - An increasing number of individuals are being sued by the ATO for company debt 05:00 - A construction company that wa being starved out by competitors were issued DPNs by the ATO 06:55 - Is there a specified timeline that determines ATO recovery actions? 08:34 - Voluntary payments and conversations with the ATO is not compliance: only valid payment plans constitute compliance 10:28 - The easy applications of the covid period are over. The ATO has clamped down on compliance 11:20 - The ATO is escalating from warning letter to statutory demand at a much more rapid rate 12:51 - ATO policy is not legal legislation. The ATO changes policy as they see fit 15:40 - Non lodgement of your BAS will default your ATO payment plan 19:27 - Accountant referrals have increased markedly as ATO negotiation has become more complex 21:00 - if a business owner starts drip feeding ATO payments the plan will default
How business owners with ATO debt can get a real break over the holidays | Olga Koskie &Michael Moon
Tax Assure's Michael Moon & Cate Kemp from The Control Room met for a conversation about the relationship between keeping on top of balance sheets & staying compliant with the ATO. In this clip, Michael outlines a recent case where a protracted family illness resulted in massive ATO debts. Tax Assure was able to negotiate these debts down and get the business back on track. This is a clip from a longer, upcoming video. -------------------------------- If you or your business is struggling with tax debt, drop us a line at: hello@taxassure.com.au ph. 1300 952 295 https://www.taxassure.com.au -------------------------------- Cate Kemp The Control Room https://catekemp.au/the-control-room/ email: cate@catekemp.com.au -------------------------------- #ATO #taxdebt #BalanceSheets Disclaimer: The information provided in this video is for general informational purposes only and does not constitute professional advice. While we make every effort to ensure the accuracy and relevance of the content, it should not be relied upon as a substitute for consultation with qualified professionals, including legal, financial, or tax advisors. Each business situation is unique, and we recommend seeking tailored advice that considers your specific circumstances before making any decisions regarding tax debts, insolvency, or related matters. Tax Assure and its authors disclaim any liability for actions taken or not taken based on the content of this video. Chapter: 00:00 - Intro 00:29 - Case study: How a media business got into debt with the ATO 02:16 - There are ways for SMEs to avoid getting into trouble with their taxes 03:52 - We want our AT debt clients to never become repeat clients
ATO debts almost ruined a media business | Michael Moon & Cate Kemp
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