Does your business have an outstanding debt with the ATO?
Effective from 1 July 2017, the Australian Taxation Office (ATO) can disclose to Credit Reporting Bureaus the tax debt information of businesses that have not effectively engaged with the ATO to manage those debts
If you are a business owner that has a tax debt and already engaged in a payment arrangement with the ATO, there is no need to be concerned, as you will not be reported.
This scheme is targeting the businesses who have not made any contact with the ATO or made any effort to minimise their tax debt, including a payment arrangement.
If you need assistance with your tax debt or unsure of the process to go through to ensure you do not have any unpaid tax debts, contact us to discuss how we can assist.