tax debts – Dymond Foulds & Vaughan

ATO debts may affect your credit rating

Posted on 6 Dec 2019 by admin

Businesses with tax debts need to be aware that the ATO will now be able to disclose the details of their tax debts to credit ratings agencies, which could potentially affect the ability of the business to obtain finance or refinance existing debt. Generally, only businesses with an ABN and debts over $100,000 and that […]

Disclosing business tax debt information: ATO consultation

Posted on 28 Sep 2019 by admin

In its Mid-Year Economic and Fiscal Outlook in 2016–2017, the government announced it would change the law to let the ATO report business tax debt information to credit reporting bureaus (CRBs) where a business consistently avoids engaging with the ATO to manage a tax debt. Tip: The ATO can’t currently pass on this sort of […]