He said more than two-thirds of the ATO’s $50 billion in collectable debt was owed by small firms.
“During the pandemic, we took a different audit posture with individuals and small businesses, chased fewer lodgements and recovered less debt,” Hirshchorn said.
“While we resumed stronger action in late 2021, we have observed a behavioural shift as to the priority of paying tax and super. We are concerned with an increased reliance on unpaid tax and unpaid super to prop up the cash flow of some businesses.”
KordaMentha partner Craig Shepard said business insolvencies would ramp up in the March quarter as Australians settled back into work, following the summer break.
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“The ATO is now back in court, they’re enforcing,…
