BICB welcomes disclosure of business tax debts

Tax Integrity — disclosure of business tax debts — amendments

The Government will amend the 2016-17 MYEFO measure Tax integrity — improve the transparency of taxation debts to increase the threshold of business tax debts that can be disclosed to credit reporting bureaus from $10,000 to $100,000; introduce a requirement that the Minister consult with the Australian Information Commissioner before changes to the reporting criteria are made; and amend the start date of the measure to the day after Royal Assent of the enabling legislation. ATO will list these defaults with the credit reporting agencies.

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