The number of court actions filed by the Australian Taxation Office has surged above pre-COVID levels, new figures show, as turnaround professionals urge small businesses to grasp the last olive branch extended to firms with outstanding debts.
In its latest credit risk report, issued Tuesday, monitoring agency Alares showed the ATO initiated 386 court actions in May 2023.
That figure is more than any month since the start of 2019, covering every jurisdiction but Tasmania.
The overall number is comprised of 94 winding-up orders levelled against companies, the most in any single month since December 2019.
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The ATO also pursue…
Read the full article at: https://www.smartcompany.com.au/finance/tax/ato-court-action-outstanding-payment-alares/