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  • Recovering debts

    We took firmer action to recover debts where taxpayers were unwilling to work with us, continually defaulted on agreed arrangements, or did not have the capacity to pay and failed to take steps to resolve their situation. This included targeted intervention in high-risk cases where taxpayers were clearly unwilling to pay.

    In a relatively small number of cases, we initiated bankruptcy or wind-up proceedings in the courts.

    This year we initiated:

    • just over 300 of the nearly 21,000 bankruptcies, a 38.5% decrease on 2011–12
    • around 1,070 of the 11,000 wind-ups, a 31.1% decrease on 2011–12.

    Bankruptcies and wind-ups in 2012–13

    Bankruptcies and wind-ups in 2012–13

    (a) Information provided by Insolvency and Trustee Service Australia (ITSA). Figures are current at 15 August 2013. ITSA may revise these figures at a later date.
    (b) Information provided by Australian Securities and Investments Commission (ASIC). Figures are current at 7 August 2013. ASIC may revise these figures at a later date.

    We recognise the significant impacts of bankruptcy and wind-up and have continued to engage external consultants to conduct regular independent reviews of our management of cases where taxpayers have been declared insolvent. The reviews indicate that our actions have not led to premature bankruptcy or wind-up.

      Last modified: 07 Oct 2014QC 42704