The client started their own business and opened a restaurant. The business quickly expanded and became a very popular chain restaurant within the hospitality industry. 

During COVID-19, the hospitality industry took a massive hit. Lockdowns and regulations had a drastic and immediate effect on the business’ income stream. Once COVID-19 hit, in 2020 alone, the client suffered a loss of close to $16 million. 

This resulted in a tax debt of over $19 million shared between 4 different entities within the group. 

Strategy

We conducted an analysis on the 4 entities and found the combined tax debt comprised of $1 million of General Interest Charges (GIC). 

During COVID-19, the lockdown period placed extreme pressure on the client and his family and sadly the marriage did not survive with them separating at the end of 2020. These circumstances along with the lasting effects of COVID-19 left the client feeling hopeless about the future. 

The stress and pressure of continuing to employ several hundred staff during a disastrous time for the business created a severe health scare that forced the client to go to the Emergency Department. 

TDSA met with the client and after learning about his circumstances in much more detail, we prepared and lodged a comprehensive application for a remission of the GIC and a long-term payment arrangement.

Success