Insolvency professionals warn the Tax Office is using DPNs and legal action to take a “far more aggressive” recovery stance.
The ATO is hellbent 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 hellbent on collecting what its owed and is really doubling down on compliance, director Gareth Gammon said.
The ATO has singled out collectable debt, small business tax performance and superannuation guarantee as its key focus …
Read the full article at: https://www.accountingtimes.com.au/profession/ato-hellbent-on-chasing-down-34bn-in-small-business-debts
