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VIC Possible to File for Bankruptcy?

Discussion in 'Debt and Bankruptcy Law Forum' started by Joybelle48, 19 November 2015.

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  1. Joybelle48

    Joybelle48 Well-Known Member

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    Hello,

    I only joined a few minutes ago so hope I get this right. If a person hasn't paid tax for maybe 20 years and wouldn't really know how much they have earned doing contracting, and at 42, want to put their hand up and confess to the ATO, could they file for bankruptcy and start afresh?

    Thank you
     
  2. Sophea

    Sophea Well-Known Member

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  3. Joybelle48

    Joybelle48 Well-Known Member

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  4. Joybelle48

    Joybelle48 Well-Known Member

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    Thank you Sophea..appreciate your help..fortunately it is not for me.

    The person I am enquiring for doesn't have any assets just some tools and an older model car....which seems he could keep. His wife has a house which she paid the deposit on from the sale of a property she had long before meeting him. He is concerned that could be affected. People get themselves into predicaments and don't know where to turn.

    Do you think he could go to jail for not paying taxes? That concerns him. I know this is totally wrong most of us pay our taxes and those who don't reap the benefits such as hospitals etc.
    Thanks again☺
     
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