US EditionBusinesses warned of ATO's high interest on tax debt
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Businesses warned of ATO's high interest on tax debt
Business owners across Australia who owe the Australian Taxation Office are being urged to act quickly before the burden worsens. Julian Finch, founder and CEO of Finch Financial, said the ATO’s general interest charge, currently 11.17 per cent and compounding daily, is one of the most financially damaging debts a business can carry, particularly for small to medium enterprises. “ATO interest rates are now more aggressive than most credit cards …
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