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Garnishee Order - Would You like Someone Else Taking Money Out of Your Bank account? by Rendy Cina
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Garnishee Order - Would You like Someone Else Taking Money Out of Your Bank account? by RENDY CINA
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| Article Posted: 04/24/2012 |
| Article Views: 144 |
| Articles Written: 885 - MORE ARTICLES FROM THIS AUTHOR |
| Word Count: 270 |
| Article Votes: 0 |
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Garnishee Order - Would You like Someone Else Taking Money Out of Your Bank account? |
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Computers
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The Australian Taxation Office (ATO) has the power with a Garnishee Order I know this sounds a little scary, but it really can happen. As a small business owner, it is important to stay in touch with matters relating to accounting laws and regulations in respect to your businesses financial affairs. Of course, an astute accounting team will help to ensure you are made away of the many changes as they occur so you can focus your efforts on other important projects. Back to the Garnishee Order.... When does it happen? A Garnishee Order Are there rules that the ATO must abide by? The Australian Taxation Office must first issue a notice of their intentions. This gives you 21 days to take some action , but there has been an instance when they acted in just 9 days - they are breaking their own rules. Why is it happening? The ATO have stepped up their efforts in collecting money owing to them. They can issue a Garnishee Order Example (this is what happened to one of our clients): The BAS was lodged early and an amount due was $35,000. The client didn't have to pay for another three weeks, went on holidays and forgot to pay. The ATO issued a notice to the business that they would use a Garnishee Order. This type of belligerent action is becoming more common. If you ever see a letter from the ATO with the word Garnishee Prepare to obtain Cisco IP Telephony Design Specialistwith Examskey, world class rehearse exam software. Training material for Cisco CCIEincludes as much as possible you need.
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