Debt Agreement Ato

Initially, this measure will only apply to companies with Australian business numbers and tax debts in excess of $10,000, which must have been in arrears for at least 90 days. “As mentioned above, it is very likely that a receiver will try to sell some of your property to settle your debts. Many of these divestments will result in capital gains tax (CGT) liabilities. Bankruptcy is the formal process that explains why you are not able to pay your debts. How the ATO enforces payments can be important, especially when a company pays its tax debts, either in part or through a payment agreement, because it cannot pay its debts in full.. . . .

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