If you have an outstanding tax liability, the Australian Taxation Office (ATO) has statutory powers to take reasonable steps to recover that debt. Those steps may include follow-up reminders, garnishee notices, debt collection agency or legal action, and wind-up orders.
Timeliness of communication and transparency are paramount when dealing with the ATO in relation to unpaid tax debt, and become increasingly critical the further they have progressed through the debt recovery process.
Matthews Steer has a proven track record of helping businesses navigate tax office debt, and offers a range of services to help your business manage unpaid tax debt. We provide invaluable insight into the ATO’s approach to complex tax matters, and we act as an intermediary between you and the ATO in relation to debt recovery and any actions implemented by the ATO in relation to unpaid taxes.
IMPLICATIONS OF TAX DEBT
Outstanding tax debt can be stressful, particularly when cash flow issues prevent you from paying some or all of your tax bill on time, and it can be tempting to bury your head in the sand and hope tax problems go away. In situations where you haven’t paid a tax bill on time it’s critical that you address the situation early, while the problem is manageable. If you fail to meet your tax obligations – or turn a blind eye to mounting tax debt – your unmanaged tax debt may:
Impact your credit rating and ability to run your business.
Limit your ability to secure refinancing or a bank loan.
Adversely affect your reputation with suppliers and clients.
Result in bankruptcy and damage your future ability to serve as a company director.
Affect your right to control your finances, and those of your business.
Attract unwanted legal action against you and your business.
Potentially expose your personal assets.
Burdened by tax debt?
At Matthews Steer we offer a range of support services to assist you to address your outstanding tax debt and to help you get back on track with the ATO.
Our ATO tax debt services include:
Review of your tax debt to ensure outstanding amount has been correctly calculated.
Strategic tax debt management advice.
Mediation between client and tax office.
Curation of financial documentation, including cashflow projections, that support proposed repayment plans.
Management of ATO audits.
Cashflow advice and strategies.
Management of tax debt dispute proceedings.
Escalation of disputed tax debt to the Inspector General.
Remission of potential interest and penalties charged.
Why work with MS
At Matthews Steer we have an exemplary reputation with the ATO born of years of compliance across our extensive client base. We have a comprehensive understanding of tax office powers, frameworks and procedures, and can act as an intermediary in issues ranging from unpaid tax debt matters to disputed demands.
For complex cases we have the option to engage the services of Aris Zafiriou, who brings an exceptional understanding of the Tax Commissioner’s recovery powers and policies, having Spent 42 years at the ATO, 12 of which as Director of Debt Management.
At Matthews Steer we provide:
Measured, policy-driven, realistic solutions to clients’ debt problems.
Peace of mind in dealings with the tax office.
Transparency and acknowledgement to the tax office on outstanding compliance matters.
The knowledge and experience to broker workable - mutually agreeable – repayment solutions to outstanding tax debt.
Surety that you receive fair treatment and protection under taxation legislation.
Strategic advice to ensure your business is structured to meet future tax liabilities.
Who we work with?
At Matthews Steer we see a number of reasons business owners experience issues resolving tax debt issues with the ATO. Cash flow issues, competing financial priorities, past tax disputes or a history of poor or non-compliance, may all create barriers to successful dealings with the tax office around unpaid debt.
Inadvertently allowed debt to mount up?
Turned a blind eye to tax demand notices?
Repeatedly defaulted on tax payments?
Buried your head in the sand, and hoped you’ll avoid further ATO action?
Racked up interest on unpaid tax debt?
Questioned the amount of tax being demanded by the ATO, but not had the knowledge to formally advance your dispute?
If these scenarios resonate with you, Matthews Steer can help you resolve your outstanding tax debt issues, and can implement strategies and structures that ensure you avoid issues with the ATO in the future. We understand that dealing with the tax office can be stressful, and our team has the knowledge and experience to broker a managed, achievable, and mutually agreeable solution for you and the ATO.