An outstanding tax debt can put real pressure on your cash flow and your business. Depending on your situation, it may be possible to refinance the debt, for example by using equity in your property or through business lending, so you can pay the ATO and move to one planned repayment. George works with your accountant to understand the debt and compare your options.
How George can help
- Review the debt and your current lending
- Work with your accountant on the figures
- Compare equity release and business lending options
- Explain the costs and the total interest
- Prepare the application with the lender
- Arrange payment of the ATO at settlement
Good to know
Your accountant should confirm the debt and any ATO payment plan available to you before you refinance.
Securing a tax debt against your home puts the property at risk, and a longer loan term can increase the total interest you pay.
Common questions
Often, yes, if you have enough equity and the lender is comfortable with your income and the reason for the debt. Lenders will ask how the debt arose and how you’ll stay up to date from here.
Many do, particularly if you can show the debt is being managed or is on a payment plan. Specialist lenders can sometimes help where banks won’t.
This page is general information only and does not take into account your objectives, financial situation or needs. It is not credit advice. Lending criteria, fees and charges apply. Credit Representative 406032 is authorised under Australian Credit Licence 384408. Australian Credit Licence 384408 is held by Elders Home Loans Pty Ltd (ABN 22 118 064 654).
Let’s talk about your next move.
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