The tax office is chasing more than $34 billion worth of debts owed by small businesses and self-employed Australians that were put on hold during the pandemic, and sometimes using aggressive enforcement action to collect money, which experts say is sending some businesses to the wall.
Some experts are predicting insolvencies could track to levels seen just after the global financial crisis.
Many of those people hitting the wall are in sectors already struggling under a slowing economy, including construction, hospitality and retail.
In many cases they also owe money to other creditors but, in some cases, aggressive debt collection action from the Australian Taxation Office is a key factor tipping them over the edge.
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