The ATO has shifted its focus from providing assistance with taxes through the pandemic to now re-establishing the culture of businesses paying their tax debts on time.
Beginning in July 2023, The ATO has issued notices of intent to disclose business tax debts of more than 22,000 businesses with a tax debt of at least $100,000 that is overdue by more than 90 days, to credit rating agencies (CRAs).
Disclosure of Business Tax debts
The ATO may report your business tax debt if it meets the following criteria:
- you have an ABN and your business is not an excluded entity
- you have one or more tax debts and at least $100,000 is overdue by more than 90 days
- you are not engaging with the ATO to manage your tax debt
- you don’t have an active complaint with the Inspector-General of Taxation Ombudsman (IGTO) about our intent to report your tax debt information.
The Commissioner has urged taxpayers, with outstanding debts, to engage with the ATO to not risk their business’s tax debts becoming visible in credit rating checks.