July 2017 ATO Tax Debt

MLCo • July 24, 2017

Outstanding tax debts may be reported to credit agencies

The Federal Government has announced that from 1 July 2017 the Australian Taxation Office (ATO) will be given the power to disclose to a credit reporting bureau (CRB) the tax debt information of businesses where those debts have been outstanding for more than 90 days and where the taxpayer has not effectively engaged with the ATO in managing their debts.

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If you have any outstanding debts with the  ATO and wish to discuss this further, please do not hesitate to contact us now.