ATO RE-RAISING OLD DEBT: What You Need to Know

The Australian Taxation Office (ATO) is cracking down on unpaid tax debts, including old ones that may have slipped under the radar. Here’s what you need to know if you find yourself in this situation.

1. Understand the Situation

The ATO is actively pursuing outstanding debts, even those from previous years. It’s crucial to be aware of any old debts that might resurface.

2. Review Your Records

Go through your tax records thoroughly. Ensure you have a clear understanding of your past tax obligations and any outstanding amounts.

3. Contact the ATO

If you receive a notice about an old debt, don’t ignore it. Contact the ATO to discuss your options. They may be able to provide a payment plan or other solutions to help you manage the debt.

4. Stay Informed

Keep yourself updated on ATO policies and any changes that might affect your tax obligations. Staying informed can help you avoid surprises and manage your finances more effectively.

5. Be Proactive

If you suspect you might have an outstanding debt, don’t wait for the ATO to contact you. Be proactive in addressing potential issues to minimise penalties and interest.

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The ATO is actively re-raising old debts, so it’s crucial to stay on top of your tax obligations. If you have outstanding tax debts, now is the time to address them to avoid penalties and interest.

 

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If you’re concerned about old tax debts or need assistance dealing with the ATO, we’re here to help.

Contact us for expert advice and support in managing your tax obligations effectively. 

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