Recoveriescorp, a debt collector for the ATO, reports big revenue but pays no corporate tax

Recoveriescorp, a private debt collector hired by the Australian Taxation Office to pursue unpaid taxes, has paid zero corporate tax since securing contracts worth tens of millions of dollars to chase arrears, including from welfare recipients. Guardian Australia analysis says the parent company, Symbos Bidco, recorded large income streams in its two most recent annual accounts, with revenue surpassing $100m during 2025.

Those accounts show business expenses inflated by high consulting fees and elevated interest repayments to unnamed financiers, producing a series of annual losses and no corporate tax payable. The article says there is no suggestion the company or its directors have acted illegally.

The ATO referred more than 355,000 taxpayers to Recoveriescorp between January 2024 and October 2025, and the government tender portal shows the agency has awarded the firm $42.8m in contracts since 2022. Recoveriescorp said its business and parent were "fully compliant with their tax and regulatory obligations" and that it was reinvesting in systems and staff while in a growth phase.

The company is ultimately controlled by private equity firm Allegro, which bought it in 2024.

Key Topics

Business, Recoveriescorp, Symbos Bidco, Allegro, Australian Taxation Office, Government Contracts