ATO guide for business owners and tax practitioners

In this episode, learn some of the key challenges facing accountants in their dealings with the Australian Taxation Office (ATO) and what you can expect in 2025.  

Gain an overview of the challenges faced by small businesses, who account for 65 per cent of the ATO's debt, and the increasing pressures on both tax agents and taxpayers. 

Dive into the ATO's renewed focus on tax debt recovery, especially the significant rise in unpaid taxes post-COVID.  

Learn the importance of early engagement with the ATO to avoid enforcement actions like garnishee notices and director penalty notices (DPNs). 

Key areas in this episode 

• Impact of COVID on ATO's $50 billion debt book. 

• Importance of early engagement and payment plans. 

• Consequences for non-payment, including garnishee notices and DPNs. 

• ATO's new initiatives to address GIC remission requests and improve timeliness. 

• The ATO's approach to vulnerable taxpayers and improving service for tax agents.