Good Afternoon,
I am hoping to find answers in relation to a large outstanding tax bill that is owed by a folding business. The owner of the business does not have capacity to pay the outstanding tax and it is folding due to other companies not paying the business in question. What options are available aside from a payment plan as there is no income and has not been for the past 12 months.
Taxfriend has given some great advice.
To tag onto what they have said, if the business is folding and doesn't have capacity to pay the outstanding balance. Is a payment plan going to be the best option?
Along with contacting hardship, I'd suggest contacting the National Debt Helpline or the Australian Financial Security Authority for more tailored support in your situation.
Hello,
There is quite limited debt options for businesses besides payment plans, perhaps try contacting the hardship team to see if there are any further debt options?
Thanks
Taxfriend has given some great advice.
To tag onto what they have said, if the business is folding and doesn't have capacity to pay the outstanding balance. Is a payment plan going to be the best option?
Along with contacting hardship, I'd suggest contacting the National Debt Helpline or the Australian Financial Security Authority for more tailored support in your situation.
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