In March 2021, as the Jobkeeper program ends, the ATO will resume pursuing and enforcing its debt recovery action. Due to the large amount of $1.3 billion shortfall against its compliance revenue target, stronger and firmer enforcement and debt recovery will be applied. ATO is now starting to contact clients, sending out mail to taxpayers who are overdue for their lodgment or outstanding with their tax debts.
If you don’t pay your tax debts on time:
- ATO will charge interest on your unpaid amounts.
- ATO will contact you soon after the due date either by SMS, messages in myGov, letters or phone.
- Your future tax refundable will be withheld by ATO.
- Stronger action will be taken if you are unwilling to work with ATO to address your debt or repeatedly default on agreed payment plans.
But don’t worry, Suttie Financial Group is here to help our clients. We can lodge your activity statements and tax returns avoid a penalty for failing to lodge on time.
Contact our office today if you believe you have a tax debt.