Debts owed by businesses and individuals to the ATO have jumped to a record $62.2 billion, with 1.35 million small businesses owing two-thirds of the overdue taxes and super payments as they battle a cash-flow squeeze and slowing economy.
Directors of companies are also increasingly being targeted as personally liable for unpaid tax debts for their business, after the Australian Taxation Office issued more than 71,000 director penalty notices (DPNs) for small businesses in the year to June 30.
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