ATO ramps up debt collection of overdue tax debt
The Australian Taxation Office might have paused its tax debt collection processes over the pandemic, but the gloves have now come off.
As a result, businesses with overdue tax debts of more than $100,000 may have their tax debt information reported to the credit reporting bureaus by the ATO – an outcome you naturally want to avoid.
The ATO may report your business tax debt if you meet the following criteria:
- You have an Australian business number (ABN) and are not an excluded entity.
- You have one or more tax debts and at least $100,000 is overdue by more than 90 days.
- You are not engaging with the ATO to manage your tax debt.
Learn more here – ATO website
Credit Reporting Bodies
CreditorWatch Pty Ltd
Equifax Australia Information Services and Solutions Pty Ltd
illion Australia Pty Ltd
80 144 644 244
26 000 602 862
95 006 399 677
CRBs that have signed a Deed of Agreement with the ATO
But what can you do if you have a tax debt and you can’t pay it? – Learn more here