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The Australian Taxation Office (ATO) has issued a warning to businesses with substantial tax debt, or that have failed in their superannuation obligations to pay up or be disclosed to credit reporting agencies.
The ATO has said that it is pivoting back to its pre-pandemic “business as usual” debt collection strategy, issuing over 22,000 businesses with warnings since July 2023.
According to the agency, businesses with tax debts exceeding $100,000 and are overdue by more than 90 days are now in danger of having the debt disclosed to credit reporting agencies.
In October it expects 9,000 Australian businesses to have their debts disclosed.
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