5 Urgent Actions to Take When You Receive an ATO Statutory Demand An ATO Statutory Demand is a serious document that lands with a thud on your company doorstep. It signifies the Australian Taxation Office (ATO) has exhausted its usual collection methods and is demanding immediate action on your outstanding tax debt. Don’t panic! While […]
Quick summary: Loan Type: Tax debt loan of $1.1 million blended 1st and 2nd mortgage Security: Unencumbered commercial premises Challenge: Urgent need to repay substantial ATO debt despite business growth Solution: Fast, tailored funding in 48 hours Outcome: Business retained working capital and stayed on growth trajectory When a growing business receives a sudden call […]
Chapter 1.1 Restructuring Plans for Small Businesses the Basics Introduction Small businesses are the backbone of the Australian economy, contributing significantly to employment and economic growth. However, they often face financial challenges that can threaten their sustainability. In response to these challenges, the Australian government introduced Small Business Restructuring Plans (SBRPs) as a lifeline for […]
Lesson 2: Understanding Director Penalty Notices Are you aware of the potential risks and issues associated with Director Penalty Notices (DPNs)? As a director of a company, it is crucial to understand your obligations and responsibilities when it comes to unpaid tax liabilities. At Secured Lending, , we want to help you navigate the complexities of Director […]
Lesson 1: Consequences of Unpaid Tax Debt Are you aware of the severe consequences that businesses face when they do not pay their outstanding tax debt? Ignoring tax obligations can have a detrimental impact on your business’s financial health and overall success. At Secured Lending, , we want to help you navigate the complexities of DPNs, mitigate […]
This is the time of the year where you have to pay the ATO for your outstanding Company tax. Earlier this week we provided a Melbourne business owner with a $1.5M facility to cover his outstanding tax debt. Our loan was secured by a second mortgage over two of his commercial units in Clayton. With […]
Is the Tax Office knocking at your door? The Australian Tax Office is ramping up their debt recovery program, with small businesses in particular coming under the magnifying glass. At present there are 120 new Director Penalty Notice’s (DPNs) being issued each day and intent-to-disclose notices on the increase for businesses with over $100,000 […]
