ATO Disclosing Debt to Credit Reporting Agencies

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...

Tax Debt Problems – An Overview

WORRIED ABOUT A COMPANY TAX DEBT? WELCOME TO DISSOLVE, 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 Prohibition Order If...

ATO Payment Arrangements

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...

ATO Departure Prohibition Order

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...

ATO Garnishee Order

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...