ATO is coming to collect: 84,000 penalty notices issued, crackdown on phoenix activity ramps up

The Australia Taxation Office issued over 84,000 Directory Penalty Notices (DPNs) in FY 2024-25, triple the number from the previous years. According to ATO Commissioner Rob Heferen, 22,000 taxpayers owe $11 billion in unpaid taxes - about 20 per cent of the total collectable debt. If you're not paying your company's PAYG withholding, GST or superannuation on time, ATO can come after your personal assets for your unpaid company taxes. In this podcast, financial expert and registered tax agent Puneet Singh breaks down what migrant entrepreneurs need to know to protect themselves.