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Tax Debt and Divorce
The treatment of a tax debt in divorce proceedings is a critical consideration when the parties assets are being divided between them.
Tax debts incurred by either party to a marriage prior to separation or divorce are counted as liabilities of both parties. Therefore when parties are engaged in settling their share of the matrimonial pool in divorce proceedings, the Family Court is required to take tax debts into consideration.
Equitable Distribution of Tax Debt in Famil
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The rate of the ATO’s general interest charge
The general interest charge rate charged by the ATO changes every quarter. Read more about how it is calculated, and the reasons why it is more than a standard mortgage rate.[…]
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Statutory Demands Issued by the ATO
Find out what to do if the ATO issues your company with a statutory demand for unpaid tax debts.[…]
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Applying for a release from your tax debt
The ATO can completely release an individual from some or all of their tax debt if they would suffer ‘serious financial hardship’ if they had to pay it.[…]
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Garnishee arrangement instead of payment plan: Company not wound up
The ATO commenced debt recovery action and would not accept a payment plan. However Waterhouse Lawyers negotiated a Garnishee arrangement so that the company could continue […][…]
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How the ATO uses legal action to collect tax debts from an individual
These are the steps that the ATO takes when it starts legal action to recover a tax debt from an individual (i.e. as a sole trader, an employee, or a partner in a partnership).[…]
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How the ATO default administrative penalty is calculated, and what you can do to reduce it
The ATO can charge a penalty of up to 90% of the primary tax debt if it issues you a default assessment or a notice of estimate. Read about how these default penalties are calculated and how they can be reduced.[…]
