The tax office is once again perceived as the ‘bad cop’ on the beat and it’s the Albanese government that’s given it a mandate to go hard and recoup more than $50 billion in debt owed, most of it by small business. The message is clear: the honeymoon period — extended during the COVID-19 pandemic...
Tag: Tax debts
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‘Think carefully before you sign’: Mia lost her family home after taking on a small business loan with $100,000 interest
Small business owner Mia Li breaks down in tears when she recalls losing her family home. She made the tough decision to sell her property to save her business that was on the brink of collapse because of mounting debts to the Australian Taxation Office (ATO) and suppliers. The debt was made worse after she...
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Restaurant chain collapses owing $23m
A fine dining restaurant chain has collapsed with debts of about $23 million, leaving 200 jobs teetering on the brink. Last month, hospitality business Good Group Australia, which operated a high-end string of steak restaurants and several other Asian venues across three Australian states, called in administrators. Its Botswana Butchery chain sold steak for as...