News of the day – 9th May 2023

It’s Official, the ATO is Back!

9th May 2023

The new ATO deputy commissioner of small business, Will Day, announced this month that they are actively collecting outstanding tax debts again, after three years of pandemic leniency. “The ATO has an obligation to collect what is owed”, he said.

Director penalty notices (DPNs) are on the rise, so too the volume of winding up applications, in a return to pre-pandemic numbers.

So, we are back to normal, things will only get worse if you ignore a tax debt, and your options evaporate if you receive a DPN, although we can help even so. Solutions are available if you get ahead of the ATO compliance measures. Temporary debt protection can help, or a company restructure could be the answer. Just don’t do nothing!

Everyone’s situation is unique, that’s why we offer a no cost assessment from our Principal – Andrew Purcell, who will tailor a solution for you. Andrew has been advising small business owners since 2012 on how to manage their tax debt. He has restructured over 300 companies without a single issue from the ATO or ASIC because he does it ‘by the book’, and he handles every client personally.