Tax Debt
Can’t pay ATO tax debt?
The ATO can issue a Director Penalty Notice under Section 222AOE for unremitted tax.
If you receive one or think one is coming, you must act immediately to avoid personal liability.
You can become personally liable for a company tax debt.
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An Introduction to Tax Debt
Introduction
Tax debt is a complicated area, and you might be struggling to understand the implications of a business debt on both your company’s future and your personal assets. If you’re unsure how to solve your tax debt crisis, The Insolvency Experts are here to guide you and offer solutions during this difficult time. Act early, and you could find that the situation is not quite as bleak as you thought.
More expert advice in our video library
What is a Director Penalty Notice?
Find out more about what receiving one means for you and your business.
Paying the debt in instalments
Assess the risks and gains involved in paying the debt in instalments.
Proposed law changes to be aware of
How policy proposals currently under review could change your situation.
How to respond to a Director Penalty Notice
Choose from one of four options if you receive a DPN.
Serving of a Director Penalty Notice
Understand the importance of keeping your company address details up to date.
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