Glossary

Garnishee notice

What a garnishee notice is, who it's issued to, and why refinancing an ATO debt before one is issued matters.

A garnishee notice is a direction the Australian Taxation Office can issue to a third party, most commonly a bank or a business's customers, requiring them to pay money owed to the debtor directly to the ATO instead, without needing the debtor's consent. For a business, a garnishee notice against a trading bank account can disrupt far more than the tax debt itself, since it can intercept incoming funds and unsettle supplier and staff payments at the same time. Businesses facing an unresolved ATO debt or a lapsed payment plan generally aim to refinance or restructure the debt before a garnishee notice is issued, since options narrow considerably once one is in effect. Lenders assessing an ATO debt refinance will ask directly whether any garnishee notice is current, since it changes both the urgency and the practical steps required to complete the refinance.

Related

ATO debt refinance · DPN · ATO payment plan

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