The Superannuation Guarantee Amnesty Dilemma

Should directors disclose their outstanding ATO super debts now in anticipation of the law being passed? Or do they hold off until it comes into effect?

Should directors disclose their outstanding ATO super debts now in anticipation of the law being passed? Or do they hold off until it comes into effect?
Finding it hard to pay for the essentials? You may be in financial hardship. Super can be one way to access cash””but is it a good idea?
You now have the opportunity to make late lodgements penalty-free. But while this is a great reprieve, it’s only good if you can make payments? Learn more
Now the ATO has made tax debt collection a priority, the postie may drop a new orange letter at your door. But don’t stress – you have options. Learn more.
Did you know tax debt can affect your business credit score? If you want to avoid a black mark, applying for an ATO payment plan is a smart option. Learn more.
If your business is struggling with tax debt and the ATO hasn’t shown you debt forgiveness through an ATO payment arrangement, here are the options open to you.
There are plenty of things you could do with your tax return, but what should you be doing with it? While it is tempting to blow it all on a new TV, putting your tax money toward your debts can help you pay off your loans faster and save thousands in interest.
If you are not meeting your household living expenses, withdrawing your super to pay off debts is only a short-term solution.
Keeping up to date with taxes is a chore that haunts thousands of Australians but it is absolutely essential and beneficial to do so.
If you have a company tax debt, this could have a serious impact on the way you run your business.