Getting ATO Payment Plan
Are you struggling to get ahead of your tax debt and need expert help?
At Oyster Hub, we review your entire tax situation with the ATO through a seven-step process that will determine whether an ATO Payment Plan or ATO Tax Debt Negotiation is required.
Contact Us on (02) 9158 5444.
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Get Help with ATO Tax Debt Payment Plan
Avoid More Stress & Stop Further ATO Recovery Action By Acting Now To Get Expert Help With Your Tax Debt
If you are getting pressured by the ATO and have received a letter of demand, garnishee notice, director’s penalty notice or bankruptcy notice from ATO act now and save your business from forced closure.
Our expert tax accountants have helped many small businesses struggling with ATO payment plan and can help you manage your tax debt payment plan and represent your case to ATO and save your livelihood … your business.Â
How our expert tax accountants can help you:
- Get an ATO Payment Plan for you Tax Debt
- Comply with your outstanding business obligations
- Seek financing options to pay off your ATO Payment Plan
- Negotiate on ATO Payment Plan arrangements
- Apply for Remissions of General Interest Charges
- Remission of failure to lodge penalties
- Handle Director Penalty Notices.
- Business viability assessment for ATO
- Work With Us
Many Small Business Owners Have High ATO Tax Debt and Require ATO Payment Plan Because of Poor Business Advice.
We find that 80% of accounting and bookkeeping errors for small businesses have led to high ATO tax debts.
Our small business tax accountants will work with you to get you a payment plan and review your business so you move forward without constantly worrying about the ATO constantly watching over your back.Â
Sloth AccountantsÂ
Consider alternative options if your accountant has been unresponsive and hasn’t given valuable advice on how to minimise your tax.
Directors can be held personally liable for ATO tax debts, including overdue superannuation and PAYG liabilities, even if the business ceases operation.
Ignoring ATO RemindersÂ
Neglecting ATO reminders or your accountant failing to lodge your ATO obligations on time can lead to serious consequences
The ATO has the legal authority to issue notices and directly withdraw overdue debts from your bank account
Do you often feel that your Accountant is a Sloth, and you are constantly playing catch-up with ATO compliance and payment plans?
Many business owners come to Oyster Hub for emergency accounting support due to accumulating ATO debts, despite their accountants filing the necessary documentation on time. Before they realize it, their business debts become personal liabilities, and they’re left feeling overwhelmed and unsure of how to proceed. Ignoring the problem will only make matters worse. At Oyster Hub, we strive to provide our clients with actionable solutions to resolve their ATO debts before it spirals out of control.
Need an expert wizard?
Come and have a chat with our friendly staff about your next big steps.
01
How We Manage Your ATO Debt And Payment Plan
Late lodgement of your tax return or BAS can result in heavy penalties from the ATO, but running away is not the solution.
We have a proven track record of successfully challenging ATO penalties and interest with over $200,000 refunded to our clients. Let us help you take control of the situation and buy you the time you need with ATO.
Before we seek and negotiate with ATO, the first step is to get your tax debt under control and establish a reasonable payment plan with ATO.Â
Establishing a manageable payment plan with the ATO upfront and honoring it is crucial to maintaining a good relationship with the ATO. Failing to comply or constantly seeking to renegotiate may result in the ATO being less willing to work with you in the future.
Our team at Oysterhub specialise in negotiating with the ATO to help our clients secure tax debt relief. Our team has extensive experience and a deep understanding of ATO’s priorities and policies so we can represent our clients effectively Whether you need help negotiating a payment plan or resolving a tax debt dispute, we are here to help you achieve the best possible outcomes.
There can be many reasons why you have high tax debts. At Oysterhub, we conduct thorough analysis and review your previous years to identify find potential tax-saving opportunities.
- Your Personal CircumstanceÂ
- Was a default assessment made by the ATO due to non-lodgement
- Unpaid SuperÂ
- Director Penalty noticesÂ
- Maintaining your well-being
Dealing with tax debt issues can be stressful. Oysterhub can communicate with the ATO on your behalf and let them know that we are handling your caseto alleviate the stress and anxiety associated with dealing with the ATO.
When you come to us with a large ATO debt, we take the time to thoroughly investigate the reasons behind it.
- Was there Director Penalty Notice Issued
- How much is General Interest Charges from ATO
- Penalty Notice Issued By ATO
- Did you get Default Assessment from ATO for NON-Lodgement?
- Was your Accounts Done Correctly by previous Accountant
- Look for Tax Saving Strategies that can apply
ATO Mostly don’t negotiate debt or payment plan unless all your obligations, such as BAS, Tax Returns, Super Forms, FBT, and PAYG Summaries are up to date. Our first priority is to ensure that you are ATO compliant so that we can work towards negotiating a manageable payment plan for you.
- Lodge all ATO Obligation
- Amend Default ATO AssessmentÂ
- Amend Your Accounts Done Incorrectly
- Apply 200+ Tax Saving Strategies
- Look for Way to reduce your ATO debt.Â
If your ATO payment plan has been declined or your have defaulted on the payment arrangement, you need to seek immediate help with our expert tax accounting team. We can assisst you in minimising your risk of business closure due to ATO action. Call (02) 9158 5444 to get the help you need.
Do you have a Problem ATO Payment Plan?
A cancelled ATO payment plan can still put your business at risk of legal action or bankruptcy, even if you’ve been making payments on time. This can happen if you don’t meet other ATO obligations, such as lodging your BAS or other returns. To reduce your risk and consolidate your tax debt, consider a tax debt loan.
Has the ATO Threatened to Wind Up your Business?
The ATO has the power to force a liquidation of your business if there is significant unpaid tax debt which can result in the removal of your business. However, our team has helped clients in similar situations by securing finance and allowing their business to continue even in the face of wind-up orders or court proceedings.
Not settling ATO Debt can have severe consequences on your business including its closure. As a director of a company, you can be held liable for the outstanding debt which was not paid on time. Immediate actions should be taken upon ATO notifying you. Oysterhub can negotiate on your behalf with the ATO and ensure that the debt is valid. If it invalid, then a dispute can be raised. Our team can also seek an extension to give us time to prepare your case.
Ensuring that all of your ATO lodgements are up to date is a critical first step in negotiating an ATO payment plan for your tax debt. At Oyster Hub, we take the time to thoroughly assess your situation and develop a payment plan that is tailored to your unique circumstances.
- Get your GIC & Penalties Remitted
- Provide ATO with Cashflow Analysis for Business
- Negotiate Payment Plan
If you’re struggling to pay off your tax debt or have an outstanding tax debt from a previous year, it’s important to take action before ATO does.
Tax Debt Loans can provide a solution if you are struggling to pay an ATO Debt or meet a payment arrangement.
We understand that you may not have the funds available to clear your tax debt or keep up with your other financial commitments while also meeting a payment plan.
That’s why we offer a range of finance solutions to provide you with the necessary funds to pay off your ATO debt and get your finances back on track, while minimizing stress and ensuring long-term financial stability.
Our team of expert negotiators has extensive experience working for businesses negotiating an ATO tax payment plan.
We know the ATO’s priorities, the terms they’re most likely to accept, and the best information to present to them to make your case.
However, it’s not just about knowing negotiation tactics. The ATO wants to see that you’re serious about paying your tax debts and taking steps to improve your circumstances.
Our past clients can attest to our ability to deliver on ATO debt payment plans. When the ATO sees that we’re representing you, they know that we mean business and are committed to finding a solution that works for everyone involved.
Don’t let tax debts weigh you down. Contact us today to learn more about how we can help you negotiate an ATO tax payment plan that meets your needs and gets your business back on track.
There are many reasons why you may want to seek a second opinion on your tax situation— perhaps you’re facing a large tax bill, or you disagree with the ATO’s assessment of your taxes. You may be uncertain about the accuracy of your tax returns or need advice on complex tax laws that you’re not familiar with.
Our team can help identify any errors or omissions in your tax returns and provide advice on complex tax laws. Seeking a second opinion on your tax situation can provide valuable insights and identify opportunities for deductions and credits you may have missed.
02
Negotiating ATO Debt and Reducing the Impact on your Business Cashflow
The first and most important thing to know about resolving tax debt is that it is negotiable, and with the right planning, you don’t need to pay the full debt.
We have successfully negotiated ATO payment plan debts with ATo where the business owners meet the criteria and written over $500K in ATO debt with the right negotiating approach.Â
Not every accountant is equipped to help you resolve your tax debt. Dealing with tax debt is not just about resolving the debt and getting the ATO off your back. We understand the stress and anxiety that comes with receiving a message from the ATO. It can disrupt your sleep and ruin your entire weekend, leaving you feeling overwhelmed and unsure of how to proceed. Our team is committed to providing our clients with the support and guidance they need to address your tax debt and help you get back on track. That’s why we offer a true 24/7 tax debt hotline, so you can get the help you need when you need it most.
03
Critical Warning Signs of Financial Stress
Failing to settle your ATO debt can put your business in serious jeopardy, even leading to the closure of your company. As a director, your debt is not limited, and the consequences of ignoring it can be severe.
If the debt is not paid on time, you will be notified by ATO and actions will be taken.
With Oyster Hub, we can help you negotiate with the ATO and ensure the validity of the debt on your behalf with the ATO. If it invalid, then a dispute can be raised. We can also negotiate an extension to give us time to prepare a solid case.
A Statutory Demand Notice is a written, formal document from a creditor requesting payment of an outstanding debt. If you receive a statutory demand, you have 21 days to pay your debt. If you choose to ignore the demand, your business will be presumed to be insolvent, which can leave you exposed to applications to wind up the company.
Receiving a statutory demand notice is a major sign that you’re experiencing financial stress. To see an example of a statutory demand notice, click here.
A Director Penalty Notice (DPN) is a penalty issued to a Director of a company by the Australian Taxation Office (ATO). DPNs are typically issued for failing to meet Pay As You Go (PAYG), Goods and Services Tax (GST) or Super Guarantee Charge (SGC) obligations.
The ATO can sometimes hold directors personally responsible for outstanding PAYG, GST and SGC debts, and any director of the company may receive a notice. Even if you have resigned from a company, you can still receive a DPN for unpaid debts incurred while you were a director of the company.
If you’ve received a Director Penalty Notice, call us now on 1300 069 155. The sooner you speak to a professional, the better.
The ATO has powers under the Taxation Administration Act 1953 to collect debts that are owed to them. If you’ve received a letter from the ATO warning you about debt collection actions, it’s likely that your ATO debt is significantly overdue. Receiving a debt collection warning from the ATO is a sign of severe financial stress and shows that the ATO is preparing to take more serious action.
The ATO can take actions that include:
- Issuing a notice to your bank, employer or other parties requiring them to pay your outstanding debt
- Issuing a Director Penalty Notice for company debts
- Hiring a collection agency to recover payments
- Commencing bankruptcy or liquidation proceedings against you or your business
To see an example of an ATO debt collection warning letter, click here.Â
We can issue a garnishee notice to a person or business that holds money for you, or may hold money for you in the future. This requires them to pay your money directly to us to reduce your debt. We’ll send a copy of the notice to you.
For individuals, we may issue a garnishee notice to:
- your employer or contractor
- banks, financial institutions and building societies where you have accounts
- people who owe money to you from the sale of real estate, such as purchasers, real estate agents and solicitors.
For businesses, we may issue a garnishee notice to:
- your financial institution
- trade debtors
- suppliers of merchant card facilities.
Tax laws impose interest charges from the date a tax liability was due to be paid until it and the accrued interest charges are paid. If a debt is increased by an amended assessment, interest charges also apply from the date the original assessment was due to be paid.
This is intended to:
- ensure that taxpayers who have underpaid their tax during this period do not receive an advantage over those who have paid their tax
- compensate the community for the impact of late payments.
The ATO is quick to pursue business owners it suspects of non-compliance or having tax debts. With its investment in technology, ATO has automated many of its processes, enabling them to easily identify businesses that are failing to meet their obligations.
6 Reasons Why You Have High ATO Debt!
Are you struggling with tax debt and not sure where to turn for help? Many people’s first instinct is to turn to their usual accountant, but unfortunately, not all accountants are equipped to handle complex tax debt situations. Instead of providing effective solutions to help you pay off your debt, some accountants may simply shy away from the issue altogether.
Your outdated accounting system is only capable of analyzing past records and cannot predict your business’s future. As a result, it falls short in providing you with insights that can help you make informed tax-saving decisions. Upgrading to a modern accounting system is essential to help you stay ahead of the game and plan your tax strategies effectively.
Rather than just looking at your past records, a traditional accountant may fail to help you make effective tax planning decisions to minimize your tax liability. It’s essential to work with an accountant who understands your business and collaborates with you to build a customized tax strategy that aligns with your long-term goals.
Life-changing situations, such as medical conditions, family emergencies, or other unexpected events, can greatly impact your ability to meet your ATO payment plans. ATO will be lenient if we can help you demonstrate these challenges. We understand the importance of supporting you through difficult times. Let us walk hand in hand with you.
Effective tax planning can help in accurately forecasting your tax bills before lodgement. Without it, you may find yourself unsure of your tax position and unprepared for any unexpected tax liabilities.
Maintaining control over your cash flow is vital to pay bills and operate your business efficiently on a daily basis. Understanding your cash flow is crucial to avoid falling into debt traps.
Opting for a loan or financing to meet your ATO payment plan can be a practical solution to repay your tax debt. This can put you further ahead from where you started.
SYDNEYS BEST EXPERTS
Our OysterHub accountants are available to provide your business with the accounting services and strategic direction it needs to grow while staying in compliance with tax laws.
Because all of our Sydney accountants are highly skilled experts with experience working with a number of business types, you can be sure that using our services will lead to the greatest outcomes. An accountant can help you with everything from dealing with the ATO to growing your business.
6 Reasons Why You Have High ATO Debt!
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What People Love About Us
I have never found a more passionate finance broker than Vik and his team at Oysterhub. We were about to lose our house when our business took a down shift. Vik saved us from getting a finance deal approved when banks shut the door at us. It's great to work with people who actually care about people not just profits.
I have never seen someone more passionate tax accountant than Adarsh about wanting to help people save time on their menial processes - makes me wonder the experiences in business he has gone through but I'm not complaining I am thankful for it. He is the only tax accountant who has helped me save an extra 8-10 hours per week on lazy accountant tasks and facilitate in enabling me to put these tasks to more productive areas.
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