The Australian Tax Office is owed $30bn, two thirds of it by small and medium sized enterprises, with industry insiders warning a crackdown is imminent.
Insolvency experts Rodgers Reidy says the overlying message is clear if youve got an outstanding tax debt, it wont be forgiven. It says companies with tax debts should contact the tax office to arrange a payment plan or contact a small business restructure SBR practitioner, like Rodgers Reidy who can help in the process or provide advice.
Print finance expert Richard Rasmussen from Ascent Partners said, The SBR programme is a cost effective way to handle poor trading or ascertain if there is a sustainable way out….
Read the full article at: https://www.print21.com.au/industry/latest/tax-office-sme-crackdown-coming