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ATO strikes without warning in harder line on debt

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Manage episode 376402979 series 2394975
Content provided by Accountants Daily and Momentum Media. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Accountants Daily and Momentum Media or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Enforcement action without warning is an unmistakeable sign that the ATO has adopted a tougher line on debt recovery, says a tax debt specialist. “We’re absolutely seeing an increase in enforcement action, an increased focus on individuals – so directors and not just the company – and an increase in enforcement action without any warning,” said Olga Koskie, a director and principal at tax debt negotiation specialist Tax Assure. Speaking on the latest Accountants Daily podcast, Ms Koskie said two factors underlined a change of mood at the ATO. “One is a focus on compliance – on lodgements on time, on payments on time, and the history of the compliance of a company or an individual or a business is affecting whether or not they’re getting payment plans,” she said. “And the second is ongoing viability. So if they don’t believe a company has the ongoing viability or is able to demonstrate ongoing viability, there may not be as many second chances.”

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254 episodes

Artwork
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Manage episode 376402979 series 2394975
Content provided by Accountants Daily and Momentum Media. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Accountants Daily and Momentum Media or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Enforcement action without warning is an unmistakeable sign that the ATO has adopted a tougher line on debt recovery, says a tax debt specialist. “We’re absolutely seeing an increase in enforcement action, an increased focus on individuals – so directors and not just the company – and an increase in enforcement action without any warning,” said Olga Koskie, a director and principal at tax debt negotiation specialist Tax Assure. Speaking on the latest Accountants Daily podcast, Ms Koskie said two factors underlined a change of mood at the ATO. “One is a focus on compliance – on lodgements on time, on payments on time, and the history of the compliance of a company or an individual or a business is affecting whether or not they’re getting payment plans,” she said. “And the second is ongoing viability. So if they don’t believe a company has the ongoing viability or is able to demonstrate ongoing viability, there may not be as many second chances.”

  continue reading

254 episodes

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