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If you have tax debts, then it is vital that you get good legal advice from a suitably qualified disputes lawyer, especially considering the ATO is set to ramp up its debt collection activities.

What are Disputes about Tax Debts?

There are several different things that the ATO will do to force the payment of tax debts.

These things include:
1. Send a letter of demand
2. Issue Directors Penalty Notices
3. Issue Garnishee Notices
4. Commence Legal Proceedings
5. Serve Creditor’s Statutory Demands
6. Commence Wind Up Proceedings
7. Commence Bankruptcy Proceedings

All of these are very serious and should not be ignored.

Negotiate a Payment Plan with the ATO

In most cases, the quickest and most cost-effective way to resolve ATO tax debts is by negotiation. An ATO Payment Plan is a great way for businesses to pay their tax debts in instalments.

These instalment payments help business owners to:
1. Avoid unnecessary insolvency action.
2. Keep their business trading.
3. Manage the business cash flow; and
4. Repay their tax debts in manageable amounts.

Do you Qualify for an ATO Payment Plan?

For the taxpayer to qualify for an ATO payment plan, the ATO must consider the following criteria:

1. The taxpayer must prove that the payment plan is in the interests of good management and administrative common sense.
2. The taxpayer’s debt must not be in dispute.
3. The taxpayer’s payment plan must not favour any creditor and ensure the payment plan is fair to all creditors.
4. The taxpayer’s payment plan must offer all the net assets of the taxpayer; and
5. The taxpayer’s proposal must be in writing and supported by material outlining how the taxpayer will fulfil the payment plan.

Are you Eligible for an ATO Payment Plan?

A taxpayer will be eligible for an ATO payment plan if:

1. The taxpayer’s business cannot obtain finance or a loan.
2. The taxpayer’s business has a history of good payments and lodgement, including (a) no more than one ATO payment plan default in the preceding 12 months; and (b) no outstanding lodgements of business activity statements.
3. The taxpayer’s business has a recent business activity statement debt of less than $50,000, overdue for no longer than the preceding 12 months.
4. The taxpayer’s business has an annual turnover of $2 million or less.
5. The taxpayer’s business is able to show it is viable moving forward.

Conclusion to Resolving Tax Debts

It is almost always better to try to resolve your tax debts by negotiation or alternative dispute resolution, than legal proceedings.

Contact our litigation lawyers today for a free 30-minute consultation in relation to managing and resolving your tax disputes with the ATO.

Stonegate Legal

At Stonegate Legal our lawyers assist and advise people, businesses and companies on all commercial litigation, debt disputes, and insolvency matters.

Litigation – we act for all businesses, companies, partnerships, and people who are involved in commercial or civil disputes, we act for both plaintiffs and defendants in Court proceedings.
Debt Disputes – we act for anyone involved in a debt dispute. We act for creditor plaintiffs seeking to recover a debt, and we act for debtor defendants seeking to dispute an alleged debt owed by them.
Construction Disputes – Stonegate Legal can assist in resolving all building and construction disputes, payment claims, subcontractors’ charges, and adjudications.
Defamation – Advice and assistance in relation to legal action over publications which contain defamatory imputations and any defences to a defamation action.
Partnership Disputes – Advising and assisting with partnership disputes and helping to reach a good resolution, or protect the client upon exit of the partnership.

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