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Tax debt specialist Olga Koskie explains why it's not all doom and gloom in relation to payment plans and tax debts despite a shift in the ATO's approach.
The current state of play with tax debts and the ATO
05 July 2024
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2 minute read
In this latest episode, Tax Assure principal Olga Koskie shares what she's currently seeing in practice in terms of the ATO's approach to tax debts and the types of terms it is willing to agree to with payment plans.
While the ATO is now firmly back in active collective mode, Koskie says it is still possible for businesses with tax debts to obtain payment plans that are affordable and sustainable.
She sheds light on the factors the ATO is looking at when considering when to grant payment plans and what is likely to lead to a more favourable outcome.
Koskie also explains what initial steps businesses with these debts should be taking and how they may need to structure their arrangements based on their specific circumstances, such as projected cash flow.
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