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Proposed tax debt disclosure set to put an end to ‘unofficial ATO bank’

Proposed tax debt disclosure set to put an end to ‘unofficial ATO bank’

The government’s plan to allow the ATO to disclose business tax debts to credit reporting bureaus could spell the end of businesses using the Tax Office as an unofficial bank, says one professional body.

by Shared by the Accountants Daily | Aug 18, 2019

The introduction of Treasury Laws Amendment (2019 Tax Integrity and Other Measures No. 1) Bill 2019 has revived a measure seeking to allow the ATO to disclose business tax debts of over $100,000 to credit reporting bureaus.