ATO “Bank” or not? Anyone in business would agree that with the current economic climate, many business owners/ managers are suffering from a never-ending headache, trying to manage their cash flows. Having tight debtor collection policies in place is a fantastic way to start, however unless you have solid cash reserves, you may find yourself juggling payments to your creditors at times. In these circumstances, we see many business owners enter into payment plans for their tax obligations with the ATO (Australian Tax Office). We ask whether this is a good idea and what other options there may be. Firstly,...
