Don’t get too excited as the ATO has cautioned that it has its eyes out and will be starting the debt collection restart.
The ATO are looking at recommencing the debt and lodgement intervention in September after it hit a pause earlier this year due to COVID-19
It will be a bit of a cliff-hanger if the government stimulus package such as Job Keeper comes to an end. They are calling it the September ‘cliff’
The ATO are focusing on small business which is currently the majority of tax debts, which hit $16.5 billion in the 2018-2019 financial year.
Did you know that almost one in five small businesses entered into a payment plan with the ATO during this time?
If you are needing assistance and need to get on top of your books before the ATO comes knocking, then contact Maree today.
Maree’s Mobile Bookkeeping | Over 20 years Bookkeeping experience | Qualified BAS Agent
M: 0429 363 047