Tax Debt Solutions Analyser Tool

Welcome to the Australian Tax Debt Solutions analyser tool. This tool will walk you through several questions about your circumstances and provide you a rough list of options that you have to resolve your tax debt challenges.

Please note: Responses are not recorded and we do not collect any personally identifiable information when you use this tool. This tool is provided ‘as is’ as general information only, and should not be used as a substitute for professional advice regarding your specific circumstances.

Question Progress

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Is it a Company or Personal tax debt? *
Can the debt be paid in full within 2 years? *
Have you received a Director Penalty Notice? *

Please click Next.

Do you want to save the business? *
Do you need to avoid Bankruptcy (usually because you want to continue to be a Director) *
How much is owed to the ATO?
$
How much is owed to creditors other than the ATO?
$

You have indicated that...

  1. Your debt is company tax debt.
  1. Your debt is personal tax debt.
  1. The debt can be paid within the next 2 years
  1. The debt cannot be paid within the next 2 years
  1. You received a Directory Penalty Notice.
  1. You have not receive a Directory Penalty Notice.
  1. You want to save the business.
  1. You don't want to save the business.
  1. You need to avoid Bankruptcy.
  1. You don't need to avoid Bankruptcy.
Total Debt Owed
$
0.00

Based on that information, your suggested solution is:

Small Business Restructuring: SBR was introduced in 2021 to assist small businesses in financial difficulty. SBR allows a small business to propose a Plan to its creditors to restructure its debts while the directors remain in control of the business.

Voluntary Administration: Voluntary Administration can be an excellent solution for a company in financial difficulty. VA provides a company with a one month breathing space to negotiate with creditors including the ATO to arrive at an agreement to save a business.

Liquidation: Sometimes it is best to liquidate a company and move on. Simplified Liquidation was introduced in 2021 and is a streamlined version of the current more comprehensive Creditors Voluntary Liquidation (CVL) process.

Payment Arrangement: A Payment Arrangement is an agreement the ATO and a taxpayer agree to that allows the tax payer to “pay off” a tax debt in a series of installments.

Liquidation: Sometimes it is best to liquidate a company and move on. Simplified Liquidation was introduced in 2021 and is a streamlined version of the current more comprehensive Creditors Voluntary Liquidation (CVL) process.

Small Business Restructuring: SBR was introduced in 2021 to assist small businesses in financial difficulty. SBR allows a small business to propose a Plan to its creditors to restructure its debts while the directors remain in control of the business.

Voluntary Administration: Voluntary Administration can be an excellent solution for a company in financial difficulty. VA provides a company with a one month breathing space to negotiate with creditors including the ATO to arrive at an agreement to save a business.

Liquidation: Sometimes it is best to liquidate a company and move on. Simplified Liquidation was introduced in 2021 and is a streamlined version of the current more comprehensive Creditors Voluntary Liquidation (CVL) process.

Small Business Restructuring: SBR was introduced in 2021 to assist small businesses in financial difficulty. SBR allows a small business to propose a Plan to its creditors to restructure its debts while the directors remain in control of the business.

Voluntary Administration: Voluntary Administration can be an excellent solution for a company in financial difficulty. VA provides a company with a one month breathing space to negotiate with creditors including the ATO to arrive at an agreement to save a business.

Liquidation: Sometimes it is best to liquidate a company and move on. Simplified Liquidation was introduced in 2021 and is a streamlined version of the current more comprehensive Creditors Voluntary Liquidation (CVL) process.

Payment Arrangement: A Payment Arrangement is an agreement the ATO and a taxpayer agree to that allows the tax payer to “pay off” a tax debt in a series of installments.

Bankruptcy: Sometimes it is best to liquidate a company and move on. Simplified Liquidation was introduced in 2021 and is a streamlined version of the current more comprehensive Creditors Voluntary Liquidation (CVL) process.

Debt Agreement: A debt agreement is a legal agreement between you and your creditors, which can include the ATO. You negotiate to pay a percentage of your total debts that you can afford over a period of time.

Personal Insolvency Agreement: A PIA is a legally binding agreement between you and your creditors. A PIA can be a flexible way to come to an arrangement to settle debts without becoming bankrupt.