ATO Breaks Their Silence!

Tax Debt Recovery | SV Partners

ATO Breaks Their Silence!

Reading Time: < 1 minute

An official statement by the Australian Taxation Office (ATO) today indicates debt recovery actions will recommence in New South Wales, Victoria and ACT “after a general pause during lockdowns”.

The ATO’s initial focus will be on taxpayers with higher debts and superannuation guarantee debts, and that all other taxpayer debts (smaller non-super guarantee debts) will be pursued in the new year.

The ATO is using “a tailored approach” to lodgement and payment enforcement and continues to encourage small business and their tax advisers to bring lodgements up to date, and where necessary, enter into payment arrangements.

Tax owed to the ATO as at 30 June this year topped a record $55 billion. If, as suspected, there are record defaults in lodgements, this amount may be significantly more!

Whilst the ATO have acknowledged that small businesses have been hit the hardest during COVID-19 lockdowns, stronger recovery actions will inevitably ensue throughout wider business sectors in 2022.

An ounce of prevention is worth a pound of cure. Encourage your recalcitrant taxpaying clients to seek insolvency advice before the Taxman cometh!

If you have any questions please contact us on 1800 246 801 or visit our via email here.

Are you concerned about your financial position?
Contact us now for an obligation free consultation on

Tags: