A garnishee notice is one of the methods the Australian Tax Office can use to collect tax debts. It enables the ATO to remove monies directly from an insolvent company’s bank account or for it to directly collect monies from a company’s debtors. A garnishee notice has the effect of making the ATO a secured creditor over the debts or monies owed to the insolvent company.
If you receive a garnishee notice it’s crucial to act immediately. You have a chance to plead your case to the ATO and try to find an alternative before you lose control of your cash flow. At Corporate Guardian we can help you understand what is involved and recommend next steps.
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