Скачать или смотреть Have Tax Debt? Here's What To Do

If you're on an ATO payment plan, you're currently paying around 11.17% interest and for now, that interest is tax deductible. But from 1 July, that changes. ATO interest will no longer be deductible, and the rate will keep climbing, as it's indexed quarterly.

This means higher, non deductible costs for businesses with tax debt. The smarter play would be speaking to your accountant and finance broker now. You may be able to refinance with a lender at a lower rate that stays tax deductible. While not all banks offer this, a growing number of lenders are entering the market to help solid businesses manage ATO debt.

Get ahead of this before July 1st. Otherwise, you could be paying more tax and more interest for no good reason.

#tax #taxaccountant #ATO #paymentplans #interest #taxdeductible