ATO Hardship or Tax Debt Finance?April 23, 2020
What’s involved in borrowing to pay tax debt?April 23, 2020
Traditional lender policy will not allow lending for tax debt purposes. However, there are private and specialised lenders able to assist.
- Firstly, unpaid tax debt in the ato tax portal will prevent traditional bank approval. Consequently, banks actively look for ATO issues by confirming ATO Portal balances.
- Secondly, a traditional lender will decline loans because of tax debt.
- Finally, specialised finance such as a tax debt loan can pay a tax debt.