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The ATO speeded up up in the course of the gears on debt assortment in 2022 to factor a complete of virtually 18,500 director penalty notices, figures launched the day gone by display.

The administrative center additionally unsheathed a contemporary weapon in its armoury by means of disclosing the tax money owed of virtually 500 companies to credit score referral companies for quantities of $100,000 and above.

The overall figures display that a couple of in 3 administrators did not act after an April mail blitz by means of the ATO warned 52,000 administrators about money owed involving 30,000 firms.

By way of August, the ATO had issued 7,000 DPNs and used to be dispatching them on the price of 120 an afternoon. For the overall 5 months of the yr, it used to be additionally referring about 20 companies an afternoon to credit score companies after sending caution letters to greater than 29,000.

The ATO mentioned its debt restoration marketing campaign, suspended all over the pandemic, were a luck.

“We’ve observed an encouraging reaction to our letter campaigns, with an important stage of shoppers making bills or coming into cost plans,” an ATO spokesperson mentioned.

“The price of debt owed by means of shoppers originally of the campaigns used to be $17.3 billion. On account of those two campaigns, over $714 million has already been paid in complete and an extra $5.4 billion is now actively controlled beneath cost preparations.

“For those who have now not replied we now have stepped forward to issuing DPNs and disclosing the tax debt data of eligible companies.

“Within the 2022 calendar yr, we issued nearly 18,500 DPNs to particular person administrators in recognize of greater than 13,500 firms for unpaid GST, source of revenue tax withholding, and superannuation ensure rate.

“On the subject of Disclosure of Industry Tax Debt, we disclosed just about 500 companies in 2022 to credit score reporting companies.”

The results of the ATO marketing campaign additionally confirmed up in last insolvency figures for 2022, launched by means of ASIC.

They published 4,806 general appointments over firms for the second one part of 2022, a upward thrust of 51 consistent with cent of the corresponding duration within the earlier yr.



ATO figures display last 2022 DPN tally

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Closing Up to date: 19 January 2023

Revealed: 19 January 2023

Philip King

Philip King


Philip King is editor of Accountants Day-to-day and SMSF Adviser, the main assets of stories, perception, and academic content material for execs within the accounting and SMSF sectors.

Philip joined the titles in March 2022 and brings in depth revel in from a lot of roles at The Australian nationwide broadsheet day-to-day, maximum not too long ago as motoring editor. His background additionally takes in spells on various client and business magazines.

You’ll e-mail Philip on: This e-mail deal with is being safe from spambots. You want JavaScript enabled to view it.

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