The Australian Taxation Office's (ATO) have made an announcement regarding the reporting of businesses to credit agencies.
For those with a tax debt of at least $100,000 that is overdue by more than 90 days, the ATO will be sending Notices of intent to disclose business tax debts to credit agencies.
Currently, more than 9,000 businesses can expect to have their debts disclosed to credit agencies this month, and 50,000 in the 2023-24 financial year.
For more information you can refer to the media release from the ATO.
In light of this announcement, we strongly encourage you to act proactively to safeguard your business's credit reputation.
EnVision Partners are committed to assisting you in every way possible and ensuring that your business remains in compliance with the ATO's requirements.
