ATO to get tough on outstanding $18b unpaid tax
With the Government determined to balance the budget, the ATO is reviewing the $17.7b uncollected taxes over 2012/13 (60% owed by small businesses). Talk to us to discuss strategies to ensure you have the cash flow available to meet your tax obligations.
The Inspector General of Taxation (IGT) has announced a review of the ATO’s approach to debt collection.
The ATO has stated that more recent increases are a result of economic conditions and its assistance to viable businesses to stay afloat, but the IGT is concerned that it is a persistent source of taxpayer complaint.
Other aspects of the ATO’s debt management, including its use of third party debt collectors, have also been questioned.
Confidential submissions can be made to the IGT until 18 July 2014.