ATO to report companies to credit reporting agencies

ATO to report companies to credit reporting agencies

25 Nov 2021

In 2019, the Federal Parliament passed the Treasury Laws Amendment Act 2019 that allows the ATO to, among other things, disclose a business’ tax debt to credit agencies. It is meant to compel businesses to deal with their tax debt. The ATO has until recently, not used these powers, but this is beginning to change.

Read More

Case study: ATO garnishee notices issued to debtors

18 Oct 2021

If your company has a tax debt, the ATO can issue a garnishee notice to various parties to collect that debt. This includes banks or someone who owes your company money. A garnishee notice requires the recipient to pay funds held for your company or owed to your company, to the ATO.

Read More

Running a business while being a bankrupt

10 Sep 2021

Many people think that being a bankrupt means that they are no longer able to run a business. That is simply not the case, albeit with certain restrictions. So, what can and can’t a bankrupt do when it comes to running a business?

Read More
Change bankruptcy trustee

How to change a bankruptcy trustee?

07 May 2021

During the bankruptcy process, due to whatever the reason, a creditor has the right to remove and appoint a trustee of their choice, provided that certain steps are taken.

Read More
Tax debts increase due to Covid-19

Tax debts increase due to Covid-19

26 Apr 2021

The ATO has taken virtually no recovery action to collect tax debts since the start of the Covid-19 pandemic. This has led to many businesses simply racking up more debt.

Read More