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Tag: tax debt

Important Tax Update

July 1, 2025 - July 2, 2025 Paul Siragusa

Deduction for ATO Interest charges scrapped. If you’re carrying an Australian Taxation Office (ATO) debt there is a good chance that it will cost you even more from 1 July 2025 onwards. This is because from 1 July 2025 two types of interest charges imposed by the ATO are no longer deductible. What are the
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Business Planning, TAX DEDUCTION, Uncategorised ato, Changes, tax debt

The ATO Debt Dilemma

March 14, 2024 - March 14, 2024 Paul Siragusa
The ATO Debt Dilemma

Late last year, thousands of taxpayers and their agents were advised by the Australian Taxation Office (ATO) that they had an outstanding historical tax debt. The only problem was, many had no idea that the tax debt existed. The ATO can only release a taxpayer from a tax debt in limited situations (e.g., where payment
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TAX ASSESSMENT ato, tax debt

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