Breaking News - ATO Press Release on Debt Collection

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Breaking News - ATO Prioritising Support and Assistance for Debt Collection Efforts.

IN SUMMARY

  • The ATO wants taxpayers to engage with the ATO, ie respond to calls, set up a payment plan
  • If not, the ATO is now “taking firmer actions. These include garnishees, recovery of director penalties, disclosure of business tax debts, and legal actions including summons, creditors petition, wind-up and insolvency action.
  • The ATO is starting with larger debts and superannuation debts of any size
  • The ATO has sent 52,000 Director Penalty Notice warning letters. These are not actual DPNs. A DPN can make a director personally liable for the company’s debts to the ATO.
  • The ATO is issuing 30-40 actual DPNs a day and expects to increase this.
  • The ATO has sent 29,000 letters warning businesses of potential disclosure of their ATO debt to credit reporting bureaus, which they can do for business ATO debt >$100,000.






Next Steps

Please don’t do nothing - you don’t want to end up personally liable for the company’s debts - it’s not worth it.

Contact us to work out a ATO payment plan or discuss your options.

CONTACT US CONTACT US



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