In July the ATO will start reporting on unpaid tax debts of more than $10,000 that are 90 days overdue.
This information will be given to credit reporting agencies to include on business credit reports.
At last count, the ATO had a collectable debt book of approximately $17 billion. 70 per cent of this comes from small and medium businesses. This adds up to a significant number of unpaid tax debts.
How we help you
At Craig Tracey Lending we understand what it’s like to be self-employed. Even though the banks won’t let you borrow to pay-off tax debt, there are other lenders who do.
We make sure we understand your business finance requirements and then find the right lender and finance package for your business. Click here to contact us now: Contact Us Now