The ATO has largely put its recovery efforts on hold for the larger part of the Covid-19 pandemic. With businesses struggling to stay afloat even with JobKeeper, some business have been accruing tax debts which they cannot reasonable pay. As a result, the ATO has racked up $53 billion worth of unpaid taxes, up from […]
Read moreThere is a certain stigma attached to liquidation and company directors often don’t want their companies to go into liquidation. But liquidation can often be the only option for a company. And sometimes it can also be a good option.
Read moreThere has been a significant increase in tax debt owed to the ATO due to Covid-19. The following table below sets out what the ATO believes is total collectable tax debt: It is believed that the total collectable tax owed to the ATO will reach around $50 billion at 31 December 2021 being nearly twice […]
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