Tax Negotiators

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Current information and hot topics

Alerts

13 December 2023

When Do Directors Become Personally Liable? Understanding the Risks and Navigating Tax Debt in Australia

Running a business comes with numerous responsibilities, and directors play a crucial role in ensuring their company's compliance with legal and financial obligations. Understanding these obligations is critical, as failing to meet certain requirements can result in personal liability for company directors. Under normal circumstances, a company is considered a... MORE >
15 November 2023

The ATO Late Lodgement Penalty Amnesty for Small Businesses: What You Need To Know

For small businesses in Australia, managing tax obligations can be a complex and sometimes overwhelming task. Late lodgement of tax returns is not uncommon, but it can lead to penalties and additional financial burdens. However, the Australian Taxation Office (ATO) has introduced a Late Lodgement Penalty Amnesty for small businesses,... MORE >
16 October 2023

How to Stop a Garnishee Order by the ATO

Dealing with tax debt can be overwhelming, and if you find yourself facing a garnishee order, the situation can become even more stressful. A garnishee order allows the Australian Taxation Office (ATO) to collect outstanding tax debt directly from your wages, bank accounts, or other sources of income. However, there... MORE >
13 September 2023

Have You Been Issued With A Business Activity Statement Default? How Tax Negotiators Can Help

Running a business involves numerous financial obligations, including the timely submission of Business Activity Statements (BAS) to the Australian Tax Office (ATO). However, circumstances may arise where a business is unable to meet its BAS obligations, resulting in a default notice from the ATO. This can be a distressing situation... MORE >
21 August 2023

Tax Planning Strategies for Small Businesses: Maximising Returns

When it comes to running a small business, it’s crucial to find ways to maximise returns and minimise taxes. Tax planning strategies can help achieve these goals while staying within the bounds of the law. Small business owners often engage with the Australian Taxation Office (ATO) and their tax agent... MORE >
14 August 2023

Benefits of Outsourcing Accounting, Taxation & Bookkeeping Compliance

Over the past few years, business owners have been confronted with increasing demands for financial transparency and government compliance. Balancing day-to-day operations with complex tasks like accounting, taxation, compliance, finance, and risk management has proven to be a challenge for many businesses. Undoubtedly, tax-related and accounting tasks are never easy.... MORE >
11 August 2023

From Burden to Breakthrough: Resolving Business Tax Debt Through Negotiation

For many businesses, tax debt can become a heavy burden that casts a shadow over their financial stability and growth. Unpaid taxes, mounting penalties, and the constant pressure from tax authorities can create a sense of overwhelm and hinder progress. However, there is a powerful solution that can transform this... MORE >
7 August 2023

Implementing an ESOP 5 Key Points to Keep in Mind

Introduction An Employee Stock Ownership Plan implementation can revolutionise a firm. This page explains implementing an ESOP and its benefits. Understanding ESOP An ESOP setup process lets employees control their company. It gives eligible employees a sense of ownership and financial stake in the firm's performance by allocating company shares.... MORE >
1 August 2023

Tax Accounting Basics: Understanding the Fundamental Principles

Tax Accounting Fundamentals Tax accounting is important for individuals and corporations. Tax accounting basics help people meet tax responsibilities and optimise their finances. Tax accounting concepts assist organisations comply with tax regulations and establish tax-efficient strategies. In this blog readers will learn tax accounting basics by exploring tax accounting overview,... MORE >
13 July 2023

EOFY 2023: What You Need To Know

With cost of living pressures on the rise, it’s more important than ever to make every dollar count this tax time. However, sticking to the rules as they change is equally important as experts caution Aussies of the Australian Tax Office’s focus areas in the 2022-2023 financial year claims. The... MORE >
18 April 2023

The Latest Changes By The ATO To Working From Home Deductions

The ATO has announced revisions to the way individuals working from home can claim deductions.  Taxpayers may choose between an “actual cost” or “fixed rate” method to claim. The recent changes, however, only apply to the “fixed rate” method and come into effect from the 2022-2023 financial year. The ATO’s... MORE >
23 November 2022

ATO Payment Plans: How They Can Help

Do you have a tax bill? Are you struggling with fines and interest? A payment plan with the Australian Tax Office (ATO) could turn everything around. What Is an ATO Payment Plan? An ATO payment plan is an effective and manageable way to get on top of personal and business... MORE >
16 November 2022

Why Cash Flow Is The Lifeblood For All Businesses

Cash flow can be defined simply as the movement of money in and out of a business. However, when analysed closely, it can be further understood as a complex relationship between income, expenses and credit terms. Positive cash flow enables business growth and is, therefore, the key to success. How... MORE >
9 November 2022

What To Do If the ATO Declines Your Payment Plan Request

As the world begins to ‘live with’ Covid-19, the leniency once afforded by the Australian Tax Office has now come to an end; and it will be sorely missed. For quite some time, the ATO were gladly waiving penalties and interest on tax debts, even reducing their overall debt collection... MORE >
2 November 2022

What Is An FLT Penalty? What To Do If You Receive One

FLT stands for ‘Failure To Lodge’ and is a penalty charged by the Australian Tax Office (ATO) to individuals or businesses that have failed to lodge a tax related report or document on time. These documents include: Income Tax ReturnBusiness Activity Statement (BAS)Fringe Benefits Tax (FBT) ReturnPay As You Go... MORE >
26 October 2022

What Is a Garnishee Notice? What To Do If You Receive One

A garnishee notice is a document issued by the Australian Tax Office (ATO) to any third party that is holding money for or owing money to you when you have an outstanding tax debt. This notice allows the ATO to bypass you, legally ordering the third party to pay the... MORE >
19 October 2022

The New Business Guide To eInvoicing

In a world with an ever-increasing online presence, it should come as no surprise that invoicing can now be done online, too. The new method of ‘eInvoicing’ (short for Electronic Invoicing’) allows sellers and buyers to exchange information digitally and securely through online software. Why Make The Switch? For some,... MORE >
12 October 2022

The Impact of Financial Stress on Mental Health and The Importance of Healing Both

Following years of natural disasters and unforeseen world events, now more than ever, businesses and individuals must take the time to heal. The correlation between poor financial health and poor mental health is undeniable and, left untreated, the combination can worsen exponentially. Fortunately, no matter your situation, there is always... MORE >
5 October 2022

The ATO’s Crackdown on Trusts: What You Need To Know

It has come to light that questionable behaviour within trusts has been surprisingly common practice. As a result, the Australian Tax Office (ATO) will be taking a hard look at the goings-on within trusts both now and in the past. This ATO-trust showdown has been bubbling away for some time... MORE >
28 September 2022

The ATO’s Debt Collecting Operations Have
Resumed: Here’s What You Need to Do

The past three years have seen an unprecedented number of natural disasters and world events which caused the Australian Tax Office to cut businesses some slack in relation to their debt obligations. After bushfires, floods, Covid-19 and floods again, the ATO simultaneously eased debt collecting and offered multiple stimulus packages... MORE >
21 September 2022

No Rest For The Wicked: ATO Collections Resume And Insolvencies Set To Skyrocket

Following its two-year, Covid-induced hiatus, the Australian Tax Office has resumed its debt collection activities at an alarmingly rapid pace. Now, financial advisors are warning of a surge in business insolvencies to come. With the aggressive collection tactics being employed, it’s imperative that businesses with a tax debt take action... MORE >
14 September 2022

Do You Have A Tax Debt? Why Doing Nothing Is The Worst Thing To Do

Financial hardship is one of the biggest challenges a business can face, but one thing that is guaranteed to make it more challenging is ignoring it.  Now that Covid relief payments are coming to an end, so is the leniency the Australian Tax Office was once giving when it came... MORE >
1 July 2022

The Latest EOFY Tax Changes You Need to Know About

As we say goodbye to the 2021-2022 financial year, it’s time to review the EOFY tax and superannuation changes that were handed down by the government on 29 March, 2022. Some of the changes implemented in the new budget will affect the majority of the population; so it’s important to... MORE >
21 December 2021

Director Identification Number. Do you have yours yet?

Company directors need to verify their identity as part of a new director identification number (director ID) requirementA director ID is a unique identifier that a director will apply for once and keep forever - which will help prevent the use of false or fraudulent director identities.When you must apply... MORE >

Download Resources

definitions

Definitions

General terms used around tax and legal matters

Online Resources

treasury

Treasury

treasury.gov.au
fair-trading

Fair Trading

fairtrading.nsw.gov.au
services-australia

Services Australia

servicesaustralia.gov.au
australian-financial-security-authority

Australian Financial Security Authority

afsa.gov.au
australian-securities-&-investments-commission

Australian Securities & Investments Commission

asic.gov.au
tax-institute

Tax Institute

taxinstitute.com.au
tax-practitioners-board

Tax Practitioners Board

tpb.gov.au
australian-tax-office

Australian Tax Office

ato.gov.au
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Tax Negotiators is an Australian business consultancy focused on assisting clients to make the best decisions when it comes to addressing tax debt. © Tax Negotiators 2023