Tax Debt

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On the issue of tax debt, contrary to what many people think, the ATO want to help you get back on track. By paying what you owe and then ensure that you comply with your obligations in the future. My experience is that if you handle the situation in the right way and have the capacity to pay the debt that is owing, ATO officers are generally helpful and understanding and will try and help you.


Apart from the fact that you should pay what you owe, the ATO does not want a taxpayer, who is not meeting its obligations, to have a commercial advantage in the market place over another taxpayer who is doing the right thing and paying what they are required to. This is a fundamental rule that the ATO adheres to.

The following points are critical when discussing tax debt:

  1. Find out how much you owe?
  2. Don’t ignore the problem – it won’t go away
  3. Seek appropriate advice immediately (contact Graeme Beveridge 0417 998920)
  4. Make sure your Advisor contacts the ATO
  5. Liquidation or Bankruptcy does not have to follow
  6. Makes sure you learn from past mistakes and don’t repeat them
  7. Director Penalty Notice – If you are a Director of a company and you know you are in trouble check your mail every day. Make sure the Postal Address of all Directors is up to date with the ATO and Australian Business Register (ABR).
  8. Phoenix Operators
  9. What happens when the ATO writes off a debt?
  10. Don’t ignore the problem – it won’t go away.

The above points are discussed in more detail by downloading the following article however you need to act quickly in order to achieve the best possible outcome.