Original article by Cameron Micallef
The Australian – Page: 15 : 14-Jan-25

Data from CreditorWatch shows that 5,097 businesses owed more than $100,000 to the Australian Taxation Office in 2024; some 1,715 of these businesses were declared insolvent or ceased trading. In addition, the owners of more than 2,430 firms opted for restructuring rather than liquidation. The ATO advised in November than it intends to ‘aggressively’ pursue outstanding small business tax debts, which totalled $34bn at the end of 2024. CreditorWatch CEO Patrick Coghlan has defended the ATO’s stance, arguing that it is simply trying to collect the tax that all companies are obliged to pay.

CORPORATES
CREDITOR WATCH PTY LTD, AUSTRALIAN TAXATION OFFICE