Getting the priorities right: ATO garnishee notices in times of corporate distress
Source: Australian Tax Forum Journal Article
Published Date: 1 Sep 2020
One of the most effective debt collection powers within Australia's current tax regime is the Commissioner's power to issue a notice to a third party that owes money to, or holds money for, a tax debtor under section 260-5 of Schedule 1 to the TAA (garnishee power). This article will discuss how an insolvent corporate tax debtor is likely to be impacted as a result of the use of this power by the Commissioner.
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Details
- Published By: Sylvia Villios CTA, David Brown
- Published On:1 Sep 2020
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