Your Credit History could be Ruined without an ATO Tax Debt Repayment Plan.
Does your business currently have a tax debt owing to the ATO?
New debt reporting powers given to the ATO could see businesses that owe more than $100,000 in tax and
are more than 90 days in arrears without a payment plan, to be reported to credit agencies.
This will affect your future capacity to borrow from a bank from both a business and personal capacity.