The Australian Tax Office (ATO) will be targeting up to 90,000 small businesses over the next three months as part of a major compliance operation. The ATO will be obtaining details from 11 financial institutions including American Express, Commonwealth Bank and ANZ for credit card payments received by small business for the 2014-15 financial year. […]
There’s been a strong rise in the number of businesses entering external administration (EXAD) for the three months to September, as poor sales and increased creditor activity takes its toll.
The number of businesses entering external administration jumped almost 6 percent in the last financial year, with insolvency practitioners reporting more activity in the SME sector as a result of tighter Australian Taxation Office debt recovery.
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