We have previously explained about the different types of director penalty notices (DPNs) which can be issued by the ATO here. In summary there are: ‘Ordinary’ or 21-day DPNs where directors can avoid personal liability if the company is placed in liquidation or voluntary administration; and ‘Lockdown’ DPNs where directors will not be able to […]

A review carried out by the ATO shows that undisputed tax debts have increased by 77.6 percent in the four years to 30 June 2020. Inspector-General of Taxation and Tax Ombudsman, Karren Payne’s review found that collectable debt has grown from $19.2 billion at 30 June 2016 to $34.1 billion at 30 June 2020. The […]

Has your company got a tax debt it can’t pay? If so, you can ask the ATO for a payment arrangement. And as part of a payment arrangement the ATO may agree to reduce interest and penalties owed by a company. But the ATO will virtually never agree to reduce a company’s core tax debt. […]