ATO’s Debt Recovery Action
Posted
The ATO’s pause with respect to debt recovery during the COVID pandemic ceased earlier this year with the ATO resuming its focus on recovery of monies owed. The ATO’s recovery efforts focus on money owed relating to Superannuation Guarantee Contributions (SCGs), GST and Pay-as-you-Go Withholding (PAYGW).
There have been a high number of ATO issued Director Penalty Notices (DPN) since August 2022. A DPN is an instrument whereby a director of a company can be held personally liable for monies owed to the ATO.
For businesses in arrears, the ATO’s advice is to engage with them as early as possible as they have structures in place to guide businesses through these situations.
If you receive a DPN and are in doubt as to what is required, please reach out to the member services team on (02) 6175 5900 or seek independent legal advice.
