Have you received a copy of a Garnishee Order in the mail? If so , your bank account may have been emptied and you have been left panicked and confused. You might be thinking can the ATO freeze your bank accounts? Unfortunately - it can.
Implications of receiving a Garnishee Order
A Garnishee Order is one of the tools in the ATO debt collection arsenal. It is sent out to a Third Party demanding payment of any money owed to you straight to the ATO.
This payment is made to satisfy your tax debt. Any creditor you owe money to can apply for a Garnishee Order through the court. However, the ATO can send them without a court order.
Having a Garnishee Order issued against your company is a sign the ATO is getting serious about recovering their debt. If you don’t take appropriate action, the ATO could start action to wind up the company or force you into bankruptcy.
CALL - 1300 809 290 for a consultation