The ATO may report your business tax debt to credit reporting agencies if the following criteria are met:
- You have an Australian business number (ABN) and are not an excluded entity (eg deductible gift recipient, super fund, registered charity or government entity)
- You don’t have an active complaint with the Inspector-General of Taxation Ombudsman (IGTO) about our intent to report your tax debt information.
- You are not engaging with the ATO to manage your tax debt eg via a payment arrangement, an application to release debt or a formal objection process
- You have one or more tax debts and at least $100,000 is overdue by more than 90 days
The ATO will send a formal notice if they plan to disclose your business’ tax debt. You have 28 days from receiving the notice to take the necessary action.
Your tax debt information will be removed with the reporting agency when you pay your debt in full or effectively engage with the ATO to manage the debt.
If you receive one of these notices please contact our office immediately to discuss.
We can act on your behalf and begin negotiations with the ATO.