Australian businesses are going to keep falling into dire financial trouble at a record rate, in large part due to overdue tax debts.
So far this year, more than 10,000 businesses have appointed external administrators already higher than the total of about 9500 for the 2022-23 financial year, and far higher than the roughly 6100 for 2021-22.
According to insolvency firm Jirsch Sutherland, the tax office is playing a big role in those collapses.
“Since the start of the calendar year we have experienced a noticeable uptick in small business restructuring plans and voluntary administrations to res…
Read the full article at: https://www.9news.com.au/finance/business-collapses-australia-tax-office-chasing-debt/ce11a2f7-5566-4689-83b1-2eb1c48af1d4