Taxpayers and Company Directors know the Australian Taxation Office (ATO) holds special powers beyond the usual debt recovery strategies. In recent years those powers have expanded.
The ATO’s powers now extend to Director Penalty Notices, garnishee orders to third parties, estimates and default assessments. Not complying with the ATO’s requirements can have serious implications. You therefore need to be informed, lodge company statements on time and keep your books in good order.
Source: Rapsey Griffiths 20/0314 www.rapseygriffiths.com.au
Please Note: Many of the comments in this article are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances.
Mark has helped us immensely to understand our financial position, these guys are not just tax agents, they fully understand all aspects of business.
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