With COVID-19 stimulus programs contributing to a large budget deficit for Australia, the ATO is set to take more aggressive action to recover its book debt following COVID lockdowns.
The pandemic has also created some uncertainties around ATO debt recovery, such as how the courts will treat the circumstances surrounding lockdowns as a defence to various tax liabilities.
In a five-part video series, Aptum Practice Leader (Tax Disputes), Tuan Van Le, explains some of the main debt collections powers used by the ATO in the context of COVID-19, sharing advice about what to look out for, and what to do if you or your company are served with one.
ATO Debt Recovery Set to Ramp Up Following COVID-19 Stimulus Programs | Part One
Part one outlines how COVID-19 stimulus programs such as JobKeeper have created budget deficits for Australia, and why the likely response from the ATO is more aggressive debt recovery action.
How to Navigate ATO Director Penalty Notices | Part Two
Part two outlines some of the things to be aware of to avoid receiving a Director Penalty Notice from the ATO, and the steps to take if you are issued with one.
What to do if you Receive an ATO Garnishee Notice | Part Three
Part three discusses some of the things to be aware of to prepare for the issue of an ATO Garnishee Notice, and the steps to take if you are issued with one.
What to do if your Company Faces a Winding Up Application | Part Four
Part four provides a framework for preventing your company from being wound up in insolvency, including what to do if the ATO issues you or your company with a bankruptcy notice or statutory demand.
Defending Against ATO Debt Recovery Action Through State Courts | Part Five
Part five outlines some of the options available to you if the ATO takes steps to resolve your tax debt through the State Courts, and offers a framework for improving your prospects for defence.