Protecting Perth property against Bankruptcy & Insolvency
Facing bankruptcy or insolvency in Perth can be overwhelming. Understanding how the Bankruptcy Act 1966 (Cth) interacts with property rights in Western Australia is crucial if you want to know what assets you can keep and what creditors may claim. 1. Bankruptcy in Australia – The Basics When a person is declared bankrupt in Australia, […]
ATO Director Penalty Notices on the Rise in 2025
The Australian Taxation Office (ATO) has significantly increased its debt recovery efforts in 2025, particularly targeting businesses with overdue tax liabilities. Where a company is unable to pay its tax debts, the ATO is now more frequently pursuing directors personally under the Director Penalty Notice (DPN) regime. Directors must take proactive steps to understand their […]
Tax on West Australian Expats Living in Bali
Living as a West Australian expat in Bali comes with its own set of tax obligations that one must be aware of to ensure compliance and avoid any potential confusion. It’s essential for expats in Bali to have a clear understanding of their tax responsibilities to navigate the tax system effectively. For West Australian expats […]
ATO targeting unlisted SMSF assets
Close to 1.15 million Australians are currently managing their retirement savings through one of the nation’s 616,400 self-managed super funds (SMSFs). The total net assets held by these SMSFs have reached a significant milestone, standing at an impressive $896 billion collectively. The recent surge in the number of SMSFs has not gone unnoticed by the […]
Director Penalty Notices: A Critical Approach to Debt Recovery
The post-COVID economic landscape is witnessing a significant shift in Australia as the Australian Taxation Office (ATO) has intensified its efforts to reclaim over $34 billion in debts from small businesses and self-employed individuals, a collection effort paused during the pandemic. At the forefront of this mission is the deployment of Director Penalty Notices (DPNs), […]
ATO’s Debt Recovery Plan for 2025
The Australian Taxation Office (ATO) is intensifying its efforts to recover approximately A$50 billion in overdue tax debts and make substantial internal process enhancements. Despite some stabilization in its debt situation over the past couple of years, the ATO is now ramping up its activities around debt collection to ensure taxpayers meet their obligations promptly. […]