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Tax debt is a choice… why not focus on resolving tax debt instead?

At EPAS, we are consistently surprised by how long people wait to address their business tax debt. They know it’s not going to go away, and yet, by choice, they continue to kick the proverbial can down the road until it becomes a critical threat to the business… and often the business owner, since the debt will often move to them personally. Each time someone comes to us in that situation, they discover that resolving tax debt is easier and less stressful than they had imagined.

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What you need to know about resolving tax debt

The first and most important thing to know about resolving tax debt is that it is negotiable, and with the right planning, you don’t need to pay the full debt.

15 cents on the dollar is the most common rate currently, but in the right circumstances we’ve been able to reduce the debt to as little as five cents on the dollar!


Contrary to popular opinion, the ATO does not want to drive businesses to bankruptcy. With regards to tax debt, the ATO is considered an unsecured creditor, and as with all creditors, it can be negotiated with. If the financial situation of your business is such that insolvency in the fact of the tax debt is the only option, the ATO will negotiate with you, on the basis that it’s in good faith and the agreement is kept to.

At EPAS we have a long history of assisting clients with our team of professionals;  From collecting the data together that the ATO needs to see, to building a resolution plan and then returning your business to a healthy state. The sooner you set about resolving tax debt, the greater your options will be, so contact us immediately if you are in any way concerned about tax debt.

Not every accountant can help you in resolving tax debt



We often hear from desperate business owners that are convinced that nothing can be done about their tax debt. Their normal accountant wasn’t able to come up with a solution, and often they’re certain that the business is doomed. They’re only reaching out to us was a last-ditch attempt to protect themselves from the debt being transferred to them personally.

 

They end up amazed that we’ve been able to not only save them from the debt, but put their company back on the path to a healthy balance.


It’s not that “vanilla” accountants are bad at their jobs. For the most part the accounting industry is filled with people that can accurately compile tax returns and manage a company’s books. It’s when a case becomes unusual that your regular accountant can start to struggle. Often, they don’t fully understand the options open to clients with regards to resolving tax debt.


Or think about it this way; if you’ve got an unusual medical condition, you’re going to see a specialist about it, rather than your GP. It’s not that the GP doesn’t know what they’re doing. It’s just that for a specialist challenge, you need a specialist. The team at EPAS are specialists in overdue lodgements, resolving tax debt, and negotiating with the ATO.

The benefits of coming to EPAS

It’s not just that we’ll help you by resolving tax debt and getting the ATO off your back. Our process will help to make sure that you don’t need Emergency Accounting again.


1)     We’ll conduct a full audit of your business matters, to better understand how you ended up in the situation.


2)     We’ll help you build a plan that systematically reduces debt and liability while building your business into a healthy place again.


3)     We’ll help you understand how to see and address warning signs into the future.


4)     We’ll be there for you in the long term. Most of our clients come to us with a specific emergency, but stay with us into the long term because they realise that we understand their business and see ourselves as a genuine partner in it. 

We can’t help until you’ve contacted us! If your tax debt is causing you sleepless nights, it’s a good sign that you should be reaching out to us immediately. 


Get Started

Drop us a line and we’ll get back to you!

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