Business tax debt advice

1. The Solvers Business Tax Debt Advice Protect Your Business From Debt Director's Penalty Notice Negotiating Business Tax Debts My Super hasn’t been paid Unpaid Super and PAYG Short Term Business Loan Business Tax Debt Advice Protect Your Business from Debt DIRECTOR'S PENALTY NOTICE NEGOTIATING BUSINESS DEBTS MY SUPER HASN'T BEEN PAID UNPAID SUPER AND PAYG SHORT TERM BUSINESS LOAN SOMETHING ELSE? Advisory, Negotiation & Business Tax Debt Advice Advisory, Negotiation & Business Tax Debt Advice Director’s Penalty Notices? Unpaid SGT, PAYG and Super? ATO negotiations and tax debt funding? If you’re facing any of these – and other tax debt issues – we can help. We are expert advisors for small to medium business providing debt protection advice and

2. support. Check out the profiles below to find out how we can help Adam Parkinson Ginette Muller Cheryl Stainsby Something Else? If your needs are more specific, we’re here to help. If you’re not sure, if there’s more than one issue you’d like to discuss or if you need help right away contact us now – it’s likely we’ve come across the problem before. And if we haven’t, we can certainly refer you to someone who has. Remember too, your initial consultation is free and without obligation. Arrange yours now. Director's Penalty Notice My Super hasn’t been paid A director of a company must make sure the company meets its Pay As You Go tax (PAYG) and Superannuation Guarantee Charge (SGC) obligations. If your company does not meet these payments in full by the due date you will become personally liable for director penalties for the unpaid amount. If you have not been paid your super, or the employer has not paid your entitlements, you may be able to access the Fair Entitlements Guarantee (FEG). A Directors Penalty Notice is a notice from the Australian Tax Office (ATO) that can make you, as the director of a company, personally liable for the tax debts of that company. Unpaid Super and PAYG If a company does not honour its Pay As You Go Tax (PAYG) and Superannuation Guarantee Charge (SGC) obligations, the staff can be left out of pocket and directors A DPN typically gives you 21 days to take action to avoid personal liability. A ‘Lockdown DPN’ means there is no escaping

3. personally liable for the shortfall. liability once the DPN is served on the director. If you don’t have the correct details recorded with the ASIC, you can’t claim the DPN was sent to the wrong address. If you have not been paid your super, or the employer has not paid your entitlements, you may be able to access the Fair Entitlements Guarantee (FEG). Keeping on top of your SGT and PAYG obligations is critical. If however you are having trouble, you need to get good advice quickly. For companies there can be penalties for not paying super and the directors can owe the money personally. Serious cases can mean imprisonment. If you do get a DPN, watch out for all the phone calls and letters from people who try and sell you easy ways out (DPNs are public notices). Key for a business struggling to meet SGT and PAYG obligations is to lodge their business activity Statement (BAS) on time – even if they can’t pay it. Advising the ATO of the liability at least gives the directors a short time to act and get some advice. Negotiating Business Tax Debts Short Term Business Loan Hiding cash (maybe under your mattress) or hiding you head in the sand are both bad ways to deal with the tax office. Like many things in life, dealing with a business tax debt is best solved by addressing the issue early. You need to be careful when looking to get a loan to pay an exiting debt. Still, you may be able to get some cash flow finance or funding to cover a shortfall caused by tax obligations you can’t meet right now. Up-to-date and prompt lodgement plus working with a trustworthy adviser may help you negotiate a repayment arrangement with the ATO. Clearly you should get some trustworthy advise talk to a broker from thesolvers.com.au about what options you have and what terms. There are no guarantees, but you should talk to a Solver about getting a dialogue going, sooner rather than later. Something Else? If your needs are more specific, we’re here to help. If you’re not sure, if there’s more than one issue you’d like to discuss, or if you need help right away, contact us now – it’s likely we’ve dealt with the problem before.

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