How do I apply for ATO Tax Debt Hardship?April 23, 2020
Can I obtain a bank loan to pay tax debt?April 23, 2020
Navigating the ATO financial hardship policies is complex. Therefore, to gain hardship approval you will need sufficient supporting evidence for ATO approval. Furthermore, successful tax debt hardship applications can take anywhere from 14-60 days to be approved.
As a result; faster solutions such as caveat loans may be required to prevent legal action. However, if speed is not a critical factor; and you have time before legal proceedings then applying for hardship may still be a preferable option.
Certainly, if there is little or no time, or you have received a legal letter; then finance to pay the tax debt may be a more suitable solution.
Australian Tax Office Website: Policy guidelines for ATO Tax Debt Hardship