The Administrative Appeals Tribunal (AAT) has overturned the Australian Taxation Offices (ATO) decision to pursue $106,576 in tax debts from the former owners of a family freight and transport business.
Garry and Glenda Smith, a married couple in their 70s, operated a small interstate transport and freight business in Benalla, Victoria prior to their retirement.
Eight years ago, the business faced a series of challenging events after a large contractor went into voluntary administration while owing the business approximately $80,000. The couple wasnt able to recover any money from the contractor, as the contractor was liquidated and their business wasnt secured as a creditor.
Between 2016 and 2018, the couples business received two not…
Read the full article at: https://www.smartcompany.com.au/business-advice/legal/small-business-owners-granted-tax-relief-dispute-ato/
