Accountants told to act now to avoid client funding issues
Accountants with SME clients are being encouraged to get their tax affairs in order before 1 July when the ATO’s data sharing capabilities with credit reporting agencies are due to increase.
In the 2016-17 Mid Year Economic and Fiscal Outlook the government announced that from 1 July 2017 the ATO will be able to disclose to Credit Reporting Bureaus the tax debt information of businesses that have not effectively engaged with the ATO to manage these debts.
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