Flynn Transport reportedly owes the Australian Tax Office nearly $1 million.
Flynn Transport reportedly owes the Australian Tax Office nearly $1 million. Contributed

Flynn Transport owes $1.4 million in super and tax

RECENTLY collapsed Northern Rivers trucking company Flynn Transport owes more than $800,000 to the Australian Tax Office for unpaid employee superannuation, according to documents from a creditor's meeting held this week.

The debt is held by NSW Employment Company Pty Ltd, one of the three companies which went into liquidation when Flynn officially closed on June 30.

A list of known creditors prepared by forensic accountancy firm Worrells shows the company owes $807,226 to the ATO for Super Guarantee.

The company owes the ATO an additional $633,310 in taxes, plus about $135,000 in unpaid wages and entitlements to former employees.

This includes some $23,500 to former director Tony Flynn.

There are no assets listed on the company's balance sheet.

However, Worrells partner Morgan Lane previously told The Northern Star assets from one of the other two companies under liquidation, which had estimated surplus assets worth $2.3 million, could be used to repay some of the company's debts.

However, Mr Lane said a third company under liquidation was also carrying estimated debts of $1.5 million, which would leave the company $700,000 in the red even if it was able to comprehensively liquidate its assets.



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