The Australian Taxation Office have many tools to assist them collect tax in Australia. Two of the more common notices used are the garnishee notice and the director penalty notice.
ATO Garnishee Notice
Over recent years the ATO has increased the use of Garnishee notices. If a company has not paid its tax debt on time, the ATO can ask the company’s bank to withdraw the funds out of the company’s account and pay it to the ATO. The bank does not have the right to challenge the request and the request occurs before the company knows about it or can do anything about it.
TPH understands how to incorporate the ATO’s practices & procedures into debt management strategies in order to assist company directors in making the right decisions.
Our strong recommendation is to seek TPH’s assistance as soon as a garnishee order is received. Receiving advice as early as possible could save you and the business many thousands of dollars along with providing a sound platform to move forward on.