Director Penalty Notices (DPNs): a guide for business owners

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Running a Small or Medium Business (SMB) in Australia can feel like navigating a maze: exciting and full of twists and turns but with the risk of getting lost. Here, we discuss Director Penalty Notices (DPNs) and how a DPN can lead to serious financial consequences. By understanding these notices, directors can act quickly, avoid penalties, as well as ensure their business remains compliant.

ATO debt disclosure: a warning to Australian SMBs

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The Australian Taxation Office (ATO) is ramping up its debt collection efforts and disclosure of business tax debts to credit reporting bureaus is an important part of its debt recovery process. This practice, while intended to encourage engagement and compliance, poses a threat to the creditworthiness and financial stability of small and medium businesses (SMBs) across the country.

For business owners already grappling with a challenging economic landscape, a black mark on their credit report can be a devastating blow. It can hinder access to essential financing, strain relationships with suppliers and even jeopardise future growth prospects.

Negotiating with the ATO: strategies for small business owners

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As a small business owner in Australia, navigating the complexities of taxation and dealing with the Australian Taxation Office (ATO) can be a daunting task. However, understanding your rights and obligations, as well as employing effective negotiation strategies, can help you manage your tax affairs more efficiently and avoid potential disputes.

What Small and Medium Businesses can expect from the ATO in 2024.

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As a seasoned business debt solutions adviser to small and medium businesses all over Australia, I have seen many ups and downs in our economy over the years. After a lull during the pandemic, it is clear that corporate and personal insolvencies are on the rise once again.

Today, I’d like to share my insights on what 2024 might hold for small and medium businesses (SMBs) in Australia, particularly in relation to the Australian Taxation Office ATO).