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Tax debts to appear on Credit Files
The ATO has signaled its intention to report over 50,000 businesses to credit reporting agencies for outstanding tax debts.
This means if you have an outstanding debt it may appear on your credit file which could severely impact you or your business’s ability to obtain finance.
Most lenders will refuse credit if there are any outstanding tax liabilities and will require them to be repaid before any finance is offered.
The answer of course is to get on the front foot before it becomes a problem.
If you have equity available in your home or other property, then there are a number of finance options available depending on your situation.
If you have a tax debt and are looking for solutions then Book in with me for an initial chat to find out how how you can get this solved in the next 30 days. Click here to go straight to my calendar to make a time.
I look forward to being of help.
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