The ato is naming and shaming small businesses over unpaid tax debt
Anaita covers an ATO crackdown in Australia where businesses with unpaid tax debt are named publicly and taken to Federal Court for winding up action, citing a case where two Sydney businesses were shut down over a $400,000-$500,000 combined tax debt. Her takeaway is that businesses cannot avoid the ATO and must get their tax obligations sorted with an accountant now.
The lessons
Keep company tax and GST current, the ATO is actively naming, shaming and winding up businesses with unpaid debt
Talk to your accountant proactively rather than getting creative with unpaid tax debt
Questions people ask
What happens if my business can't pay its tax debt?
The ATO is naming and shaming small businesses with tax debt and taking hundreds of them to Federal Court for winding up action. They are treating this as fair because businesses with unpaid tax debt have an unfair advantage over those who pay. Talk to your accountant and get your tax sorted rather than trying to avoid it.
Transcript
the ATO is now naming and shaming small businesses that can't pay their tax debt let's talk about it because this crackdown could affect your business right now it involves hundreds of businesses that are being called into the Federal Court to face winding up action this is Bruce Billson and he is the small business umbudsman in Australia he has deemed the naming and shaming of by the ATO as fair and just because he says that businesses with a tax debt have an unfair advantage of businesses who don't not only that but they're forcing businesses to either pay up their tax debt or wind up their business they have 50 billion dollars of tax debt to recover from businesses they are using every tool in their arsenal to do so one of the most recent cases of this is the ATO 4 c 2 Aportos in Sydney to be shut down they had a combined tax debt of between 400 and 500,000 dollars moral of the story is you cannot escape the ATO is cracking down now is not the time to be creative talk to your accountant and get your tax sorted
