A garnishee notice allows a creditor to access money directly from your bank, financier or debtors.
The Australian Taxation Office “ATO” has the power to issue a Garnishee Notice in order to collect taxes owing to it.
Losing access to your money may have an extremely detrimental impact on your business’ cash flow. We see companies that are unable to pay wages or suppliers because the money in their bank account has been garnisheed.
Garnishee of wages is also available for personal debts such as a Directors Penalty Notice.
The two most common Garnishees are as follows:
GARNISHEE TO DEBTORS
ATO and others can collect money from your debtors by providing a debtor with a court notice requiring that the monies owed by the debtor to your company are not to be paid to the company that is owed the monies, but instead, directly to the ATO.
GARNISHEE TO BANK ACCOUNT
The ATO can collect funds that your company holds in a bank account by providing a notice to the Financial Institution requiring that monies held in a designated bank account of the company be paid directly to the ATO.
WE CAN HELP
If you don’t act quickly, you may find yourself without sufficient cash to pay your wages or critical suppliers causing serious financial consequences.
It is important that you explore all the options as every company has different circumstances and the right decision is vital in order to maximise the outcome. The earlier you act, the more options there will be available to you.
Our qualified staff use their extensive knowledge and experience to ensure you get the solution that is right for you. The business is given the best opportunity to survive. We provide you with all the information and support you need to make decisions.
Our qualified consultants will be able to explain your position and identify the specific solutions available to you.