Business Lending Enquiries Climb

Over the past few months, I’ve had more conversations about ATO debt than I’ve had in the past year.

Why? Because from 1 July, interest charges on tax debt – like the 11.17% General Interest Charge – will no longer be tax-deductible. That “small” change is creating a big shift in client behaviour.

For many business owners, tax debt has always been a manageable challenge because of the ability to claim interest as a deduction. With that safety net about to disappear, the cost of doing nothing is about to get a lot higher.

I recently spoke to Loan Market Group and Mortgage Professional Australia about the sharp increase we’re seeing in funding demand directly linked to ATO debt. The urgency is real and it’s building.

Read the short article here: 📈 Article: https://www.mpamag.com/au/specialty/sme/business-lending-enquiries-climb-amid-ato-debt-rule-changes/540429

If you have a business owner sitting on ATO debt, now is the time to act. Refinancing or consolidating could help them avoid what might become a much more expensive liability in the new financial year.

Feel free to reach out if you’d like to chat through options.