One of the long-term impacts from COVID is $45 billion in collectible tax debt. As the ATO re-focus on this problem, and businesses are also dealing with a number of headwinds, tax debt, insolvency and restructuring are going to be some of the hot topics for the year ahead.
This session will discuss what this means for businesses impacted, including:
- What options are available for business and how can they restructure or trade-out of a tax debt
- The personal liabilities for tax debts that directors need to be aware of
- What to do if you or your client can’t pay their tax debt; and
- What are some of the early warning signs of distress to look out for and when to take action.