Tax debts owed by Australians and Australian businesses have been steadily increasing. And that was even before the impact of coronavirus hit, starting in March 2020. The total debt on the ATO’s books was $49.6 billion at 30 June 2019. With what the ATO determines as being collectable debt, that is debt owed by individuals, […]Read more
A company is insolvent if it cannot pay amounts that it owes to creditors when they become due and payable. There are a number of issues that a Liquidator will look at in determining whether to pursue an insolvent trading claim. Due to the coronavirus pandemic the Federal Government has made various changes to the […]Read more
We were recently referred a client who owed approximately $232,000 in income tax. The client’s accountant had sought to negotiate a reduction of the tax debt with the ATO, however, negotiations had been largely unsuccessful. Our engagement and background information We were engaged by the client and obtained the following general information: She was over […]Read more
If you have a tax debt , you should urgently obtain professional advice and assistance. This will help you avoid ATO recovery action.
We can assist you deal with your tax debt problems. So, please call us for an initial no obligation free consultation.