The Australian Taxation Office (ATO) is intensifying its efforts to recover more than $50 billion in unpaid tax debt, with small businesses firmly in its sights. Enforcement activity is on the rise, including the use of Director Penalty Notices, garnishee orders and, in some cases,wind-up proceedings.

In a recent interview with CPA Australia, Cor Cordis Partner Shaun Matthews cautioned against waiting until it’s too late:

“They’re using every available method to ensure people are aware that their debt is due and payable. By the time the ATO has commenced winding up proceedings, some options are limited. To minimise the risk of ATO enforcement action, businesses should get in contact with their advisers as soon as there is any sign of financial distress.”

Shaun’s advice is clear: act early. Proactive engagement with the ATO and your advisers can help preserve options, protect your business, and pave the way for workable repayment or restructuring solutions.

If you’re concerned about mounting tax debt or ATO action,our team can help you:

• Review your financial position
• Develop and negotiate repayment plans
• Explore restructuring options to preserve your business

Read the full CPA Australia article here: Tax debts: Expect the ATO to come knocking

For a confidential discussion about your circumstances, don't hesitate to contact us.

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