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The Australian Taxation Office (ATO) has made debt collection a top priority, aiming for earlier intervention and firmer actions, according to their recently released corporate plan for FY24-25.
It will focus on businesses’ superannuation guarantee, pay-as-you-go withholding and GST liabilities.
“We will continue to use a tailored approach to engage with taxpayers to ensure they meet their obligations, particularly those with collectable debt, in the most efficient way for government and the taxpayer,” said ATO commissioner Rob Heferen.
The ATO plans to improve debt collection strategies and support small businesses in meeting their tax obligations.
The push to do so comes after the ATO’s total collectable debt increased to $52.4 billion.
#accountant #tax #business
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