by Brad Vincent | Oct 12, 2021
Since February 2020, the ATO have had the power to disclose the details of business taxpayers with overdue debt to credit reporting agencies. This could have a major effect on a businesses cash flow once trade creditors become aware. Who Can They Report? The ATO can...
by Shawn Powrie | Dec 18, 2018
WORRIED ABOUT A COMPANY TAX DEBT? WELCOME TO INSOLVENCY SOLUTIONS GROUP, SPECIALISTS IN LOW COST COMPANY LIQUIDATIONS There are several actions the ATO can take against a company struggling to pay their tax debt. Garnishee Notice Director Penalty Notice Departure...
by Shawn Powrie | Dec 14, 2018
What are they? Should you agree to one? It is very common for a company that is facing insolvency to become slow in paying its tax liabilities. Typically, the tax man is one of the first creditors that a company that is financially distressed ceases to pay. The ATO...
by Shawn Powrie | Aug 9, 2018
What does it mean? What should you do? The ATO has the power to stop a debtor from leaving the country (regardless of whether they intend to return or not) until such time as a debt is paid in full or suitable arrangements for payment of the debt are made. This order...
by Shawn Powrie | Aug 9, 2018
What does it mean? What should you do? A Garnishee Notice entitles the Australian Tax Office (“ATO”) to collect an outstanding tax debt by directly removing monies from an insolvent company’s bank account or directly collecting monies from a company’s debtors. The...
