As of 2021, small and medium businesses owed $21 billion to the ATO, according to the Inspector-General of Taxation and Taxation Ombudsman (IGTO). This means a lot of businesses are racking up penalties and interest which is worsening their financial situation.
It is really important for businesses to urgently get their ATO debt under control. The ATO has resumed its debt collection activities after a pause last year during lockdown.
This means businesses need to really focus on clearing the debt as the ATO pursues harder collection measures, particularly given the challenges facing the country in the year ahead.
Businesses need to get on the front foot and set themselves up for a positive year of growth and clearing ATO debt is an important component of this.
To assist the business sector, Earlypay has partnered with leading tax debt specialist, Tax Assure, to deliver a FREE seminar for businesses and professionals on how to manage and fast track paying down ATO debt.
Seminar details:
- How to manage and pay down tax debt fast.
- Speakers: Arthur Athanasopoulos, State Manager, Earlypay and Olga Koskie, Principal, Tax Assure.
- Date and time: Thursday 24 March, 11am AEST.
- Registration: https://us02web.zoom.us/webinar/register/1216461948230/WN_-q00Sp1QSsinNu7Od_Zr0w.
The seminar will cover:
- Important information and tips for businesses to assist them to improve their relationship with the ATO.
- Strategies for businesses to better manage their tax debt situation.
- Insights into how to reduce penalties and interest.
- Tips on how to address, manage and resolve outstanding debt.
With valuable insights regarding tax debt and cash flow solutions, the seminar is ideal for:
- Business owners and CFOs.
- Industry professionals, ie, accountants, insolvency and turnaround specialists, bookkeepers.
- Business advisers and coaches.
- Anyone else who is in a position to help businesses.
Businesses need to know their true situation, consult with experts, develop and implement strategies and look to options such as Sale-back Finance and Invoice Finance to inject cash into the business.
The FREE seminar will cover these issues and many more to assist businesses to navigate their way forward and clear their ATO debt faster.
