In today’s challenging economic climate, Australian SMEs are confronting an increasingly pressing issue – heightened scrutiny by the Australian Taxation Office (ATO) over unpaid tax debts. With over 9,000 SMEs now under the ATO’s watch due to overdue tax payments, businesses are feeling the urgency to address this issue promptly. In this article, we’ll explore how Fifo Capital is supporting SMEs in navigating ATO debts and optimising their financial stability.
This sudden surge of SMEs facing the imminent disclosure of their tax debts to credit reporting agencies has created intense pressure on businesses to swiftly address their tax responsibilities. The ATO’s disclosure policy stands to profoundly impact their credit ratings, making it more challenging to secure financing and potentially jeopardising their supplier relationships.
In response to this critical challenge, Fifo, a leading lender dedicated to Australian SMEs, has launched a series of innovative solutions tailored to empower businesses to overcome their financial hurdles and reestablish their economic footing. By directly confronting the ATO debt challenge, Fifo offers SMEs the necessary financial stability, access to flexible repayment options, and the safeguarding of their credit ratings. Through their tailored financial solutions, SMEs can chart a path toward sustainability, thereby diminishing their reliance on conventional debt-based loans and ensuring their credit ratings are untarnished.
“We understand the financial challenges SMEs face, especially when grappling with ATO debts and unexpected financial obligations. Unfortunately, being ready for the unexpected is par for the course in business,” said Wayne Morris, CEO at Fifo Capital. “Our commitment is to offer SMEs the support they require to effectively address their ATO debts. Our goal is to empower them to attain financial stability, flexible management of their debts, and the preservation of their credit ratings.”
To benefit from Fifo Capital’s ATO debt finance solutions, your business needs to meet the following eligibility criteria:
At Fifo, we take pride in going above and beyond to serve SMEs with the best possible financial solutions tailored to their unique needs. We understand that every business is different, and so are their financial challenges. Our commitment is to provide SMEs with the support they need to address their ATO debts effectively.
Our ATO debt finance solutions are designed to offer SMEs:
We provide access to funds that can help businesses settle their ATO debts promptly, preventing credit rating damage.
Our financial solutions offer flexibility in repayment, allowing SMEs to manage their debts without compromising their daily operations.
By addressing ATO debts promptly, SMEs can protect their credit rating, ensuring they have access to financing when needed.
Businesses that find themselves among the 9,000+ SMEs on the ATO’s radar are earnestly advised not to procrastinate. By partnering with Fifo, businesses can resolve their ATO debt within as little as 7 days, alongside a multitude of additional benefits.
The ATO’s announcement to disclose tax debts to credit reporting agencies have made it more crucial than ever for SMEs to address their tax obligations promptly. Fifo is committed to supporting SMEs in navigating ATO debts, offering tailored financial solutions that provide stability, flexibility, and credit rating protection.
If you’re an SME facing ATO debt challenges, don’t wait until it’s too late. Get in touch with our team and let us help you secure your financial future.
Remember, your business deserves financial stability and growth, and Fifo is here to make it happen.
SMEs face an ongoing battle for financial stability, often struggling to secure the funding they need for growth. Traditional banks and ‘alternative’ lenders with their business loans have left SMEs facing genuine financial dilemmas. Mark Occhiuto, Head of Sales at Fifo Capital, explains why working capital finance is the real solution. SMEs are the backbone […]
One of the best ways to strengthen your business and make it easier to access the funds you need to operate and grow, is to start using supply chain finance. Here are just a few reasons why your business should be using this powerful form of business finance. 1. Better cash flow Supply chain finance […]
Viral supply chain is an emerging concept that has been transforming traditional supply chain models, especially in Europe and the UK, using the power of new technologies and accessible information to create a more efficient, cost-effective and agile system for businesses to operate in. In Australia, this concept is gaining fast traction as greater capability […]