Every business in Australia must pay their tax to the Australian Taxation Office ATO, on time and on target. All companies in Australia pay a Federal tax rate of 30 per cent on their taxable income, except for small or medium sized businesses, which pay a reduced tax rate of 25 per cent. The reduced tax rate applies only to those companies whose turnover is $50 million.
However, taking care of business can be tough and some companies can’t always live up to their tax obligations. That’s where Wisdom comes in. Struggling with corporate tax debt? Call Wisdom now, before the problem escalates.
How Does Corporate Tax Debt Negotiation Work?
You may be wondering, “Does debt negotiation work?” The answer is yes, it can work, depending on how far into the mire your corporate tax debt situation has become before you’ve sought help. Wisdom corporate tax experts are well-versed in all the intricacies of the tax consolidation regimes that apply for income tax and corporate group taxation for Australian tax resident companies, trusts and partnerships.
We often get calls for assistance from accountants asking us to negotiate the serious corporate tax debt owed by their client company. Some companies are in trouble because they defaulted on a previous payment arrangement with the ATO, or failed in an attempt to try to negotiate a corporate tax debt arrangement. Some are even on the brink of liquidation and we have worked hard and saved their business. Contact Wisdom so we can negotiate tax debt on behalf of your business.
Process for Negotiating ATO Debt
The ATO is always open to negotiating your tax debt, so don’t just sit and wonder, “can you negotiate with the ATO?” Take action by calling Wisdom today so we can help. Negotiating tax debt with the ATO is what we do at Wisdom. And the process for negotiating tax debt includes sitting down with your accountant and director to review your company’s circumstances. Then, between us, we decide if your company can trade and make a profit in the future, taking into account any measures you may have already taken.
With regard to the risk of insolvency, we ascertain any problems for directors, such as Director Penalty or being held liable for personal guarantees. Our team of professionals can negotiate compromises or payment plans on your behalf with the ATO to cover your corporate tax debt. We have also been successful in helping to settle tax debts and make debt consolidation arrangements.
We’re Experts at Negotiating Tax Debts
Every corporate tax debt is as different as every corporate company, but the team at Wisdom are experts at negotiating tax debts with the ATO and getting companies back on their feet so they can get on with growing their businesses and thriving. We also offer sound advice about negotiating tax debt and managing corporate taxes so companies don’t find themselves in debt to the ATO in future. We also help companies rebuild their reputation and relationship with the ATO.
Contact Wisdom Business Consultants Today
At Wisdom Business Consultant, we have a collective corporate tax industry experience of over 50 years. We’ve helped many a corporation, business, and individual facing a crippling tax debt, hefty interest, penalties, and financial hardship to get back on their feet by negotiating with the ATO. The tax man has often looked kindly on a company director or business owner facing serious hardship due to illness or natural disasters and accepted a fair compromise or suitable payment plan.
Our experts can help you deal with the consequences of corporate tax debt. We can provide information and support, and negotiate on your behalf with the ATO to either settle the total amount by arranging finance, debt consolidation, or a payment arrangement. Contact the teams at Wisdom today so we can take the corporate tax debt burden from your shoulders and lead you to a positive outcome. Call us on 1300 277 148.
