Can't find what you are looking for? Call our customer support at 1300 856 710 or email us at [email protected]
Explore all the products and services which makes up your ABN membership.
Experience benefits like nowhere else with ABN. Explore all the products and services which make up your membership.
Meet the team at Australian Bookkeepers Network.
Explore the requirements for gaining relevant experience
Protect your Bookkeeping Business with ABN's PI Partners.
Protect your business with Cyber Insurance
How ABN gives back to the community
Find out how a bookkeeper can help your business.
Do you want to become a registered BAS Agent but you're not sure where to start? We've provided an outline of the BAS Agent qualifications and registration requirements.
Wondering how to become a registered bookkeeper? Here's an outline of what to expect when working as one and the steps required to become certified.
ABN is committed to providing professional development opportunities for bookkeepers.
Members Can Access Australian Bookkeepers Network's Bookkeeping Checklists, Contract Samples, Quote Templates, Agreement Letters & More.
Insolvency specialists, de Jonge Read, say ATO stronger actions on debt is only the start of years to come with tougher debt collection.
Executive Director, Hank de Jonge, says that the ATO is more actively initiating debt recovery, with increased enquiries expected to continue the upward trend.
“The amount of ATO activity is increasing,” said Hank, “In our opinion it’s only touching the surface, and it will be several years before we wash through this.
“It’s going to get tougher so now is an opportunity for anyone in a difficult situation to seek advice and formulate a strategy before they’re pushed to deal with it. Leaving it too long will minimise the options that are available.”
de Jonge continues to explain that the ATO is prepared to help SME’s to manage their debt however, as time goes on, they are getting tougher.
“The ATO tends to be the largest creditor in small business debt,” said Hank. “Small business restructures (SBR’s) invoke opportunities to formally negotiate debt arrangements with the ATO.
“The ATO is being quite supportive, as long as sensible offers are being presented,” continued Hank. “Businesses restructuring are offering on average 15 cents in the dollar and the success rate for businesses working through the SBR process is high.”
Australian Bookkeepers Network (ABN) Director, Peter Thorp, explained that some media stories of draconian ATO actions should be tempered somewhat rather than being caught up in fear mongering.
“Headlines that say the ATO is ‘tripling’ activity exaggerates the fact that the pandemic saw almost no collection activities and the ATO increased activity is starting from a very low base,” said Peter.
“Nevertheless, the ATO is looking to rein in debt and bookkeepers should be taking notice of the increasing use of debt collection tools like Director Penalty Notices and Credit Reference initiatives.
“These notices should be addressed with proactive attention because better outcomes are always more likely the sooner the issue is dealt with,” said Peter.
For those ABN members who missed it, download today Bookkeeper Radio episode 106, ‘Managing ATO Debt’ with deJonge Read’s Ashley Shield and ATO Assistant Commissioner Anita Challen.
