Lender

ATO tax default data now collected by CreditorWatch

Promoted by Credit Fix Solutions1 minute read

As we emerge from the COVID pandemic the Australian Taxation Office is stepping up its pursuit of overdue company tax and CreditorWatch has made the important decision to report tax default data.

Victoria Coster CEO of Credit Fix Solutions said CreditorWatch has recently announced that it is the first credit reporting service in Australia to provide ATO default data information. 

“It’s important for brokers to have the whole picture when it comes to assessing the credit risk of an existing customer or a new customer,” Ms Coster said. “This new ATO tax default data is a missing piece in the puzzle and we welcome the decision by CreditorWatch to provide this extra level of information.

“In the past excessive tax debts were unable to be tracked and they would be discovered after the consumer was wound up by the ATO.”

In line with the ‘Disclosure of Business tax debts’ Legislation which was passed in 2019 CreditWatch has integrated the ATO data into its credit reporting and monitoring tools.

CreditWatch reports will now include tax debts where the business has at least $100,000 overdue by more than 90 days or one or more tax debts; it not engaging with the ATO to manage the tax debt or it doesn’t have an active complaint with the Inspector-General of Taxation Ombudsman (IGTO).

If you need more information on credit reports scan the QR code below, fill in the contact form and a Credit Fix Solutions BDM will be in touch.

ATO tax default data now collected by CreditorWatch
tax financial ta
TheAdviser logo
tax financial ta
We can remove bad marks from your report and improve your credit score allowing you to buy your dream home, get a...

JOIN THE DISCUSSION

You need to be a member to post comments. Register for free today

MORE FROM THE ADVISER

ABA finalists

Finalists for 2022 Australian Broking Awards revealed!

Run with the support of principal partner NAB, the Australian Broking Awards – which is now in its 12th year –...

READ MORE
Anthony Albanese new ta

Home owners in flood regions offered cash payments

Speaking at a press conference on Wednesday (6 July), Prime Minister Anthony Albanese confirmed that residents in the...

READ MORE
Sam Henley

Fifo invests further into BDM team

According to Fifo Capital (Fifo), Sam Henley joined the lender as its senior business development manager –...

READ MORE
magazine
Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more