I was operating a business as a sole trader for the past 5 years.
The business closed last November at the end of the lease period.
I have been contacted by the ATO for an audit due to BAS returns not being lodged.
I will have a tax debt that I will not be able to pay.
I am concerned that when I lodge at least some of the late returns, that the ATO will be able to issue a Garnishee notice to my new employer.
How quickly can they issue a notice to my employer after it is established I have a tax debt?
I am considering going into Bankruptcy before the Audit date so a Garnishee would be stopped from being issued, as I have read that if the ATO has a Garnishee issued prior to me going into Bankruptcy that the Garnishee continues for the Bankruptcy period.
The business closed last November at the end of the lease period.
I have been contacted by the ATO for an audit due to BAS returns not being lodged.
I will have a tax debt that I will not be able to pay.
I am concerned that when I lodge at least some of the late returns, that the ATO will be able to issue a Garnishee notice to my new employer.
How quickly can they issue a notice to my employer after it is established I have a tax debt?
I am considering going into Bankruptcy before the Audit date so a Garnishee would be stopped from being issued, as I have read that if the ATO has a Garnishee issued prior to me going into Bankruptcy that the Garnishee continues for the Bankruptcy period.
