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ATO targets small business on late and upaid tax

Small businesses are one of the biggest contributors to the national tax debt, according to the ATO, and now they’re cracking down to recoup the $11.9 billion owed. Regular tax collection and penalties for late payment are ramping up from January 1, 2023. So what do you need to do to stay on the right…

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Tax debt will impact your credit rating

tax debt

Earlier this year, the Morrison government passed a new set of laws empowering the ATO to report business tax debts of more than $100,000 that are over 90 days late to credit reporting firms. This will impact a debt holder’s ability to get credit or finance on both a business and a personal perspective. This…

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