The ATO are issuing penalty notices

Did you know that the ATO are issuing 30-40 penalty notices a day and this is rising?

That is 30-40 director penalty notices every business day and the ATO have begun referring taxpayers to credit agencies as it steps up debt collection post COVID.

The ATO have sent letters of action, unless the director took immediate steps to address the company’s obligations.

The ATO has expected that there will be a number of insolvencies to occur over the coming months as the economy normalizes. The ATO definitely helped businesses facing challenges during the early period of COVID, but now are back at shifting their focus on debt collection.

The ATO announced that 20,000 taxpayers have already responded to the awareness letters by making payments or entering into payment plans.

If you are one of these people, don’t stick your head in the sand, even if you cannot pay the full amount owed straight away.

It’s not worth the penalties, give me a call and I can help you and setup appropriate payment arrangements.

Give me a call direct on 0429 363 047.

Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID