taxes Archives · Australian Loans Group

ATO Warned Businesses With Tax Debts

Posted on 17/11/202327/10/2023 by Laze Spasevski

The Australian Taxation Office ATO has warned businesses with tax debts. The Government’s principal revenue collection agency revealed that it has issued Notices of Intent to disclose business tax debts. At least 9,000 businesses are at risk of having their business debts sent to the credit reporting agencies for the month of October. ATO warned the businesses: That we are behind on th...
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Tax Deadline Nears

Posted on 10/11/202325/10/2023 by Laze Spasevski

As the tax deadline nears, the Australian Taxation Office (ATO) has reminded taxpayers to lodge their taxes. You may lodge through myGov or engage with a registered tax agent by the October 31 deadline to avoid late lodgment penalties. If you have simple tax affairs, you can lodge online, often in under 30 minutes, through the myGov portal. Most of the information you need will already be p...
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ATO Intends to Collect Tax Debts

Posted on 19/12/202216/12/2022 by Laze Spasevski

The ATO (Australian Taxation Office) has put small businesses on notice that it intends to collect unpaid tax debts and crack down on tax evasion. ATO second commissioner Jeremy Hirschhorn said small businesses were responsible for 65% of the $37 billion in collectible (i.e. not disputed) debt. Mr Hirschhorn said that while the ATO took a relatively relaxed attitude to debt collection during...
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ATO Cracking Down On Shadow Economy

Posted on 05/09/202215/09/2022 by Laze Spasevski

The ATO is cracking down on the shadow economy by using tip-offs from members of the public. The Australian Taxation Office said it had received 43,000 tip-offs about black economy behaviour in the last financial year, with the most common reports being for businesses: Demanding cash from customers Paying workers in cash Making sales but not declaring them The industries that ...
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