{"id":2363,"date":"2017-07-06T11:09:13","date_gmt":"2017-07-06T01:09:13","guid":{"rendered":"https:\/\/www.martinco.com.au\/?p=2363"},"modified":"2017-11-28T15:34:42","modified_gmt":"2017-11-28T04:34:42","slug":"ato-policy-focus-tax-debts","status":"publish","type":"post","link":"https:\/\/www.martinco.com.au\/ato-policy-focus-tax-debts\/","title":{"rendered":"ATO Policy & Focus: Tax Debts"},"content":{"rendered":"

The Government has announced that from 1 July 2017 it will allow the ATO to disclose tax debt information to credit reporting agencie<\/strong>s of taxpayers that are not effectively engaged with the ATO to manage their debts.<\/h3>\n

Taxpayers are encouraged to pay their taxation<\/a> debts in a timely manner to avoid it affecting their credit rating.<\/p>\n

The ATO has approximately $19 billion in outstanding or overdue tax owing, with almost $13 billion relating to small to medium enterprises with a turnover of less than $2 million. Up until now, there have been privacy provisions in place to restrict the ATO from disclosing a taxpayer\u2019s tax debt to any third party.<\/p>\n

The ATO is yet to confirm the specific grounds of the new policy however it suggests that tax debts will only be reported where:<\/p>\n