Tax Debt Resolved Blog

Has the Impact of COVID-19 Caused Your Business Debts to Spiral?

Tax Debt Resolved — Thu, 09 Apr 2020 06:15:33 GMT

As the global catastrophe caused by COVID-19 continues to intensify, businesses everywhere are closed or trading with a fraction of their normal turnover. Pubs, clubs, beauticians, auction houses, play centres, galleries, libraries and gyms have all been forced to close to stop the spread of the virus. This has put hundreds of thousands of Australians out of work with expectations that more than 1 million Australians could lose their jobs if the unemployment rate reaches its predicted 10 per cent.

Coronavirus Threatens Australian Businesses

Tax Debt Resolved — Mon, 09 Mar 2020 05:34:49 GMT

Thousands of Australian businesses have had a horror start to the year with drought, bushfires and floods. Now COVID-19, also known as Coronavirus, is a large concern across Australia, threatening many Australian businesses nation-wide.

Small Business Tax Debt Set to be Disclosed Under New Legislation

Tax Debt Resolved — Thu, 17 Oct 2019 23:34:28 GMT

The Australian Taxation Office (ATO) could soon disclose your business tax debt to credit rating agencies under new proposed legislation.

Understanding Business Tax Debt

Tax Debt Resolved — Fri, 27 Sep 2019 00:49:22 GMT

Author: Bessie Hassan

Surviving a Tax Audit: Everything You Need to Know

Tax Debt Resolved — Fri, 02 Aug 2019 05:21:25 GMT

As we head into tax time, a tax audit is something which can be an extremely intimidating prospect for both you and your business. It can be a stressful and time-consuming process.The Australian Taxation Office (ATO) is responsible to the Government and the community for collecting revenue and ensuring everyone pays the right amount of tax. The ATO will request a tax audit of your tax affairs if they believe a more in-depth examination of a tax issue is required. Factors that trigger an ATO audit include:

8 Strategies to Help Manage Your Business Tax Debt

Tax Debt Resolved — Tue, 11 Jun 2019 05:53:57 GMT

Are you behind on payments to the Australian Taxation Office (ATO)? The majority of Australian businesses pay their tax on time. But collectively, small businesses owe $15 billion in tax debt, which accounts for almost two thirds of all tax debt owed in Australia. Unpaid business tax may cause serious issues for your company and could expose you to legal action from the ATO. As a company director, you need to be proactive in managing your business’ tax debt.

The Importance of the ATO Super Guarantee Amnesty

Tax Debt Resolved — Thu, 02 Aug 2018 14:00:00 GMT

The Government has proposed new laws for a one-off ATO Super Guarantee Amnesty for business owners with unpaid employee super. The 12-month Amnesty will provide business owners with an opportunity to wipe the slate clean, and avoid super penalties. This is relevant for any employee super shortfalls over the past 26 years, .

Tax Debt Loans to Pay Your Business Tax Debt

Tax Debt Resolved — Mon, 11 Jun 2018 14:00:00 GMT

If your tax debt balloons, you could consider tax debt loans to pay off the debt. Tax debt can quickly get out of control as a number of factors could contribute to a sizeable debt. These include:

The Importance of Your Superannuation Guarantee Charge Obligations

Tax Debt Resolved — Tue, 05 Jun 2018 14:00:00 GMT

Compulsory superannuation has been around for more than 20 years. Despite this, some business owners still don’t know how important it is to pay employees super in full and on time. And what to do if they can’t pay. Failing to pay super can have significant consequences for your business and you personally as director.

Introducing Single Touch Payroll to Your Business

Tax Debt Resolved — Sun, 13 May 2018 14:00:00 GMT

Single Touch Payroll is the ATO’s new requirement for businesses to submit their payroll details. It will give the ATO real-time visibility into payroll processes while streamlining tax and superannuation obligations for employers.