Resolving Tax Debts with the ATO
The ATO’s increased debt recovery efforts aimed at retrieving overdue tax debts has been a hot topic for quite some time. The ATO has focused its recovery efforts on Small to Medium Enterprises, lodging over 1,000 winding up applications in August and September last year alone.
How can you resolve your tax dispute?
If you have a genuine dispute with the ATO, you may pursue a resolution via the ATO’s ‘in-house facilitation’ process. This process will involve an independent mediator meeting with you and the ATO’s case officer. The mediator will help:
- Identify the issues in the dispute
- Devise options
- Consider alternatives
- Reach a resolution
If you do choose to undertake this process and your dispute is not resolved, your right to a review or appeal is not affected. This is the most suitable option if you have a genuine dispute and it may help you resolve the dispute quickly.
When should you seek assistance?
We recommend contacting us sooner rather than later to discuss your options before the ATO undertakes a winding up application against your company. If you require any further information or assistance in relation to resolving you tax debt, contact our team of tax lawyers at The Quinn group on (02) 9223 9166 or submit an online enquiry form today.