The ATO winding-up blitz (as reported by ERA Legal in June and July) has continued throughout August and September, with ATO initiated windups further increasing in both months.
As demonstrated in the graph published by Insolvency Notices, below, the trend of non-government wind-ups (shown in light blue) remaining relatively unchanged, while ATO wind-ups (shown in orange) continue to climb.
Graphic Courtesy of www.insolvencynotices.com.au
With the ATO winding-up blitz showing no repreive, it is vital that businesses remain diligent with their taxation obligations. This means keeping lodgments and payments up to date – as well as responding to any demands which do arrive!
Any company with financial concerns (or who receive a demand from the ATO) should reach out for early advice to give them the best opportunity to deal with the situation.
For further information, contact ERA Legal.
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