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MELBOURNE, Australia, July 29, 2022 (GLOBE NEWSWIRE) — CPA Australia reports that the Australian Taxation Office (ATO) recently resumed its debt recovery activities after a two-year hiatus to respond to Covid-19.
The small business market alone is reported to be $12.5 billion in debt, and the ATO has written to more than 80,000 businesses encouraging taxpayers to settle their debts.
While many banks can’t refinance tax debt, there are still ways to pay off tax debt — including a loan. Business loan.
Lenders like Liberty can help business owners get their rights, says Heidi Armstrong, head of Liberty Communications. Loan To support their tax debt payment.
“If you are a business owner who has received a notice of charge, you may want to consider consolidating your debt and increasing cash flow with a business loan. Thanks to our flexible and free-thinking approach, Liberty can help businesses restructure their finances to pay tax. Debt and source additional funds for working capital.”
Tax debt can prevent taxpayers from meeting their obligations on time due to cash flow problems or personal problems. Even with guidance from tax professionals, many taxpayers can carry tax debt long after it’s due.
In addition, failure to pay the debt on time will result in the ATO adding a total interest charge (GIC) on the amount owed. A current annual rate of 8% is calculated on a daily compound basis and added to your account.
Freedom offers a variety of business activities Loan With a fast turnaround time designed to support business customers in accessing funds when needed.
By taking a more personalized approach to business loan evaluation, Liberty can tailor solutions to meet the unique circumstances of each business, and help most get the financing they need.
“With decades of experience working with business owners, Independence has the ability to provide solutions that meet their unique needs and circumstances,” said Ms. Armstrong.
Accepted applicants only. Credit requirements apply. Fees and charges are payable. Liberty Financial Pty Ltd ACN 077 248 983 and Secure Funding Pty Ltd ABN 25 081 982 872 Australian Credit License 388133, jointly trading as Liberty Financial.
Connect
Heidi Armstrong – Group Manager – Consumer Relations
P: +61 3 8635 8888
E: mediaenquiries@liberty.com.au
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Figure 1: Commercial loans
Business loan
This content was released via the press release distribution service at Newswire.com.
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