Estate planning is the process of putting in place contingency plans for your business (if any), investments and personal use assets.
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If you have received an assessment in relation to GST, income tax, or administrative penalties and not paid the tax debt, the Australian Taxation Office (‘ATO’) may commence debt collection processes against you.
The Australian Taxation Office (‘ATO’) is continuing to maintain a focus on businesses which are paid cash because of concerns that these businesses are not reporting or under-reporting their income and net GST liabilities.