Debt

Tax

The ATO is rattling its debt-collection sabres – How ready are you and your clients?

Bruce Collins, June 16 2022

This article was originally published in CCH iKnow. After a COVID-induced hiatus, there has been a lot of recent activity from the ATO on their debt collection efforts, including warnings about the potential issue of Director Penalty Notices and referral of larger corporate tax debts to credit reference agencies, as may be seen from these links...

Tax

Serious hardship - Business owners are not always eligible

Bruce Collins, September 15 2021

The current ATO policy provides decision makers within the ATO the guidelines for determining whether serious hardship exists, and if so, where the taxpayer is liable. There are three ways a taxpayer can be ‘released’ from a debt described in the ATO guidelines: Serious hardship does not have a special meaning within the tax laws. Instead the ATO...