Combating ATO Debt | Securing Financial Stability
The ATO is cracking down on outstanding debt.
If you’ve found yourself caught up in the ATO’s crackdown on historical debt collection, it’s important to act quickly. Being proactive is key to resolve tax liability and avoid further penalties.
Why you should get rid of your ATO debt as soon as possible:
- Avoid further interest charges – The ATO’s general interest charge (GIC) is a percentage of the amount you currently owed and is calculated daily.
- Impact on credit – There can be credit implications when you have ATO debt owed, which can impact your ability to borrow money in the future.
- Access to tax refunds – Your available refunds, credit and deductions could be reduced significantly if you have outstanding ATO debt.
Did you know you can finance your ATO debt?
Paying off ATO debt in full out of your business’s cashflow can sometimes impact your business’s working capital, hindering growth. The team at Pacific has put together some solutions to help your business clear it’s ATO debt and improve your monthly cashflow by providing a finance repayment that is lower than the ATO are offering as an arrangement.
- Benefit from the existing equity in your business – Raising capital through assets you already own outright could resolve cash flow issues, and help you pay off your debt faster. Our team can assist you in raising working capital against your business’ assets.
- Unsecured overdrafts – A financial solution offering flexibility and efficiency with immediate access to cashflow. The benefit is you only pay interest on the funds you use, not the entire line of credit.
- Refinance property – By refinancing your existing residential or commercial property, you may be able to access additional funds which can be used to pay off your ATO debt.
Put your future first, and secure funding for your ATO debt now.
Our team can tailor the finance solutions to your business so that you can focus on putting your business in an optimal financial position. Let us help you give your business the most suitable working capital solutions.