Posts tagged "ATO tax debt collection coronavirus"

The Australian Taxation Office has revealed the five types of business debts at the top of its watch list, as the extraordinary leniency the tax office showed to late payers through COVID-19 lockdowns finally comes to an end.

Accounting groups are urging small businesses to lodge overdue tax returns, after the tax office revealed it has started chasing debts in NSW, Victoria and the ACT.

The Tax Office has started issuing warning notices to small businesses with tax debts of more than $100,000, under new powers that allow it to disclose unpaid taxes to credit reporting agencies.