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Transparency of Business Tax Debts

Key documents

The Government announced in the 2016-17 Mid-Year Economic and Fiscal Outlook (MYEFO) that it would allow the Australian Taxation Office (ATO) to report to registered credit reporting bureaus (CRBs) the tax debt information of businesses that do not effectively engage with the ATO to manage those debts.

The Government is seeking the community’s views on the exposure draft legislation, exposure draft legislative instrument and accompanying explanatory materials. The measure aims to improve transparency in the business community by making overdue tax debts more visible to businesses and credit providers, enabling them to make a more complete assessment of the creditworthiness of a business.

The ATO is consulting with the community on its administrative approach to this measure; information is available on the ATO’s consultation page.

Responding

You can submit responses to this consultation up until 9 February 2018.

Interested parties are invited to comment on this consultation.

While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment.

Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.

How to respond

Post

Address written submissions to:

Manager
Small Business Entities and Industries Concessions Unit
The Treasury
Langton Crescent
PARKES ACT 2600