ATO Credit Card Ban Extension and Tax Debt Refinancing Strategies
The Australian Taxation Office's (ATO) credit card ban has been put on hold.
Following a backlash from small businesses, the federal government has stepped in to delay the ban until 30 June 2027.
Many businesses rely on credit cards to manage their tax payments and cash flow. While the extension provides breathing space, using credit to pay tax bills can simply shift the debt from the ATO to your credit card.
If you’re carrying outstanding ATO tax debt and own residential or commercial property, refinancing that debt into a real estate-secured loan may provide another option, subject to lending criteria:
Manage repayments on a single schedule
Access competitive real estate-secured rates
Reduce pressure on high-interest credit lines
#ATOdebt #businessfinance #taxdebt
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