ATO Announcement for Small Business Owners

The ATO have announced that they will be disclosing ATO liabilities to credit reporting agencies, initialling targeting 22,000 small businesses with unpaid tax liabilities.

They anticipate this number will grow to over 50,000 small businesses in the next 12 months

In disclosing these liabilities to credit reporting agencies, businesses will inevitably see their credit score decline and will find it increasingly difficult or expensive to source finance for future borrowing

At North Coast Lending we get that sometimes circumstances can lead to a business having trouble meeting its tax commitments. We also have lenders that understand this, and are willing to help with loans (secured or unsecured) to tidy up your ATO debt, create manageable repayments, save your credit score and potentially ensure access to future borrowing at preferred rates.

If you have any concerns about possible action from the ATO, or just want to tidy up those debts that are draining your cashflow, North Coast Lending have the largest and most experienced business finance broking team on the Coffs Coast