Chapter 16 - The Tax Department

"There are a lot of urban myths about the ATO. One of them is their official status as someone you owe money to. The ATO is a creditor, and - in the case when you are running a company - an unsecured creditor. If you company finds itself in the unfortunate position of having to go into liquidation, the ATO is just another unsecured creditor lining up with the rest of the unsecured creditors."