A tax debt whack could be on the way for small and medium-sized businesses. Finance brokers can play a key role advising SMEs on how to prepare and respond.
Help SME clients with upcoming tax pain
A tax-debt whack could be on the way for small and medium-sized businesses.
After 1 July 2025, taxpayers likely won’t be able to claim a tax deduction for the interest charged on money they owe to the ATO.
It would be a big change affecting many – about 65% of the outstanding $50 billion of ATO debt is owed by small businesses.
Finance brokers can play a key role advising SMEs on how to prepare and respond to the potential change.
“There’s a bit to be worried about here,” says Guy Callaghan, CEO of…
