Numerous individuals, businesses and even covid deniers have received grants, tax relief, debts put on hold, job keeper, job seeker and numerous other attempts at assistance. In some instance’s it has kept small business afloat and some big business have made record profits and also received Job Keeper and become even richer. I won’t name names but if you bought a fridge/TV or any appliance it was probably sold to you by somone that was being paid with job keeper
Now back to the task at hand. Since the so-called pandemic is over the ATO is going back to debt recovery, audits and also looking into business’s that have received grants and support. Legitimate business have nothing to worry about but those who might have scammed grants should be concerned.
The Government has spent so much money in the last few years that now they need to start recovery mode so going after money that was taken under false pretences is the obvious but the hiatus on tax debt is now over. The ATO is not going to come down with guns blazing but they are in recovery mode so debts they have let slide for a bit they will now be starting to be recover.
The ATO knows that although the pandemic is considered to be in decline the reality is that just because its over in the minds of politicians going into election mode does not change the fact you may have used up all your savings and are still trying to recover financially.
The things you need to consider is that what the last two years has offered is now going back to business as usual and negotiation if you do have a debt or expect to is the best option. If you engage with the ATO when you need to then options are available but if you run and hide then the ATO is like the Terminator…..They will be back!
If you need to get help getting taxes/Bas all up to date and someone to negotiate with the ATO for a payment plan then we can help so feel free to get in touch.