In November last year, we wrote about the ATO taking steps to compel businesses to comply with tax obligations. The ATO was issuing letters to tax debtors warning them of the risk of being reported to creditor reporting agencies. This power was provided by the Treasury Laws Amendment (2019 Tax Integrity and Other Measures No. […]
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Over the years, we have come across many directors whose companies would benefit being placed in liquidation. These companies have no assets and have tax debts they could not possibly repay. The directors however have been unable to place their companies in liquidation due to the costs involved. Starting 1 July 2023, liquidating these companies […]
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A company with a tax debt can be voluntarily placed in liquidation by its director/shareholders. Before this occurs, a company’s director should seek professional advice about the options available to the company and any risks or problems which liquidation may cause. We can help with providing this advice and where appropriate, in acting as Liquidators […]
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