The ATO is “hell bent” on chasing down $34 billion worth of debts owed by small businesses using director penalty notices (DPNs) and legal action, insolvency professionals say.
Insolvency Australia (IA) members said that recent activity showed the ATO was not only coming good on its promise to end its pandemic-era leniency but that it was taking a “far more aggressive” approach.
“The ATO is hell bent on collecting what it’s owed and is really doubling down on compliance,” director Gareth Gammon said.
The ATO had singled out collectable debt, small business tax performance and superannuation guarantee as its key focus areas in FY24.
Remissions on interest charges and penalties would become the exception…
