Following a two-year moratorium on debt recovery amid the pandemic, the ATO has told businesses that it has recommenced collection and enforcement activity. Tens of thousands of awareness letters about the disclosure of business debts were issued by the ATO across April and May, and 30-40 Director Penalty Notices (DPN) per day. Levi Consulting understands that this has escalated since. Businesses having difficulties meeting their tax obligations must consider the commercial and personal implications and understand that options are available to them.
Levi Consulting has developed a fact sheet outlining the ATO’s recovery initiatives, the implications for businesses, and the pathways available for resolution.Click here to download the fact sheet