Tax debt appearing on your Business balance sheet often seems to create the misconception that your business is in trouble and it’s time to send in the Administrators. In most cases however with careful and professional planning, this type of accumulated debt can be managed and restructured to allow your business to continue trading.
Restructuring the debt may be by using the equity in residential property via a Tax Debt Loan – there are some very sympathetic lenders that allow for consolidation of Business debt and Tax debt and by spreading the debt out over time helps the business to manage with smaller repayments rather than a one-off payment or payment plan designated by the ATO.
Tax Debt Resolved specialise in tailoring solutions to suit your business needs and help you get back on track as this eliminates the stress and allows you to do what you do best -running your business and concentrating on keeping it healthy for the long term.
Tax Debt Resolved prides itself on having experienced non judgemental staff in place and aligning itself with key stakeholders such as professional Accountants Solicitors to ensure we find the best solution for your particular circumstance. Privacy, respect and a committed focus on solving your problem is paramount when dealing with outstanding tax issues.
Dealing with your outstanding tax issues is now crucial with changes announced by the Australian Taxation Office that from 1 July 2017 they can disclose to Credit Reporting Agencies Tax debt information of businesses that have not effectively engaged with the ATO to manage outstanding Tax debt . Initially businesses with an ABN and Tax debt of greater than $10,000 who are at least 90 days overdue are affected. This type of listing carries with it a notification on their credit file for 5 years.
For further information on resolving your Tax debt issues contact us on 1300 62 85 86.
For more information on tax debt solutions, check out our tax debt page.