Business Tax Debts
Keeping up with your business tax obligations can be one of the most challenging aspects of managing your business finances. Many a business has been caught at the end of the financial year with a huge tax debt and no finances to pay it off. However, there is no need to despair as there is help available to keep your tax debts under control and get them paid off.
Debt Negotiators is here to help. We have been able to help business deal with their business tax debts by employing a number of strategies:
- Negotiating agreeable payment arrangements with the ATO
- Helping businesses find favourable business consolidation loans to help pay off their ATO tax debts
- Investigating business refinancing options and more.
How do I pay off tax debt?
Your best course of action to pay off a business tax debt is to contact the ATO and arrange a payment plan. In many instances, your business will be able to arrange a better interest rate by taking out a business loan with favourable interest rates to pay off your tax debts. At Debt Negotiators, we have access to a wide range of lenders, including financial institutions and banks, allowing us to negotiate the best loans and mortgage refinancing solutions on your behalf.
How can I get rid of my business tax debt?
To get rid of your business tax debt, we recommend you:
- Take action sooner than later
Contact the ATO as soon as possible to discuss your payment options and arrange a payment plan. If you are struggling to negotiate a favourable outcome, contact us and we can negotiate on your behalf.
- You have two options for paying off your ATO business tax debt:
- Make regular payments based on your agreed ATO payment plan.
- Apply for a business loan to pay back your tax debt. We have been able to arrange better interest rates for our clients than what the ATO offers to help them pay off their business tax debts.
- If you are simply unable to make repayments due to your current business debt situation, book in a free Debt Assessment and we can help you identify the best course of action to take to get out of your business debt situation.
Can I get a consolidation loan to pay off tax debt?
A Debt Consolidation loan can be utilised to pay all types of debts including tax debts. It is often best to speak with the tax office to attempt to enter into alternate arrangements as the interest charges on consolidation loans may be higher than the interest charged by the tax office.