News Tax Debt Loans & Relief

Tax Help for Small Businesses to Pay Tax Debt

Small and medium enterprises (SME’s) with tax debts owed to the Australian Tax Office are likely to start feeling pressure to repay those debts by now. The ATO is expected to start ramping up actions to get those debts repaid. Debts to the ATO mounted up to $35.3 billion in the 2013-14 period and that was a 9.7 percent increase over the previous year. Because that amount is growing so fast and is so large, the ATO is going to have to start increasing their collection efforts and SME’s should be warned.

The debt amount has grown so large that the ATO will probably make the penalties for late debt repayments much stricter in the future. The ATO will hope that the tougher penalties on late debt repayments will motivate SME’s to pay their debts on time.

SME’s often have the capital to pay their debts to the ATO but have not managed their working capital properly. Those SME’s that have delayed making their debt payments have likely been making the short term decision to use their capital in their business instead of paying their debts.

Delaying paying debts to the ATO can get an SME on a dangerous path that can lead to severe penalties from the ATO. There are ways for SME’s to get the capital to pay their debts and keep their businesses running.

Tax Help for SME’s

There are bank and non-bank lenders that make loans available for tax help. Tax help loans are common and can be had at reasonable rates. A business just needs to apply.

Tax help loans from non-bank lenders are often easier to get and are less strict. SME’s should do everything they can to avoid having the ATO come after their assets to pay off their debts. In order to pay off the debts to the ATO a bank or non-bank loan can be taken to pay off the debt. This will allow the business to stay open and profitable while paying off the loan.

If your business has debts with the ATO then you should take action now. Tax help loans are affordable and available. It is much easier to pay off a loan to a bank or non-bank lender than dealing directly with the ATO. Reach out to a non-bank lender like the Australian Lending Centre to see how we can help you with your tax debts.

News Tax Debt Loans & Relief

Federal Budget 2015 – The Good and The Bad

The Australian federal budget changes announced on May 12th had many positive points as well as several negative points that you might have missed if you did not pay close attention and read the details.

Federal Budget 2015

The Bad

On the negative side, the federal budget axed large portions of the money devoted to combating climate change. Abbott’s government has reduced the funding to the Green Army, a group of tree planters that formed part of Abbott’s “Direct Action” policy aimed at reversing climate change.

The taxes collected from “indirect taxation” will really open your eyes when the figures are laid out clearly. GST alone is expected to bring in $54.285 billion while taxes on alcohol will bring in another $5.23 billion along with petrol’s $6 billion and tobacco’s tax revenue of $8.28 billion. Australia’s foreign aid has also been slashed 20%, down to $4.1billion.

African nations in need along with neighboring Indonesia will have their benefits cut the most. Special tax breaks for big families have been taken away to save the government $177.3 million. Some art programs will have their budgets cut entirely or trimmed significantly. FIFO workers will have some travel benefits slashed to close loopholes for those who were taking advantage of the generous tax concessions.

The Good

On the positive side of things, the government is taking the initiative to allow employee share schemes so that employers can attract vital staff with tax incentives on start-up company shares. The Abbott government is making it easier for Australia’s young people to access The Youth Allowance payments.

Small businesses will get a big boost by being able to write off $20,000 of their taxes for every piece of equipment they buy for their business. Shift workers will also get more family help from nannies through a $246 million subsidy.

There were some big changes made to the federal budget in the recent announcement and not all of the news was only positive or negative but together gives a picture as to which way the government is looking to spend or save the tax revenue it receives. Whether or not you agree with the new government’s new changes to the federal budget, it is important to know how it could possibly affect you and your business or family. No matter what side of the politics you are on, it will be interesting to see how these changes to the federal budget will affect the Australian economy.

Debt Consolidation

Debt consolidation loans and the future of personal finance

Banking is evolving to meet the needs of a more technologically savvy customer base. One finance type leading this trend is debt consolidation personal finance. Non-bank lenders are offering many of the same services as big banks and also offering those services in handy mobile applications on smartphones. Many large institutions are beginning to realize that they must become as fast and available online as the smaller lenders.

Debt Consolidation Personal Finance online

Even something as common as consolidating multiple debts into one monthly payment with lower interest rates and easier payment terms is becoming something that can be done online without having to physically go in and speak with a financial advisor.

Modern banking is done more and moreover the Internet and through mobile applications and this is great for both the lender and the consumer. The consumer has many more options at their fingertips like alternative lending that is based on their social media profiles as well as their bank statements. Peer-to-peer lending has also become more popular now with a person’s access to thousands of individuals who are able to lend or a group of people who are willing to come together and lend small amounts of money to persons or businesses in need of capital.

Having more options for ways to get capital means that individuals and small businesses can reach out to a variety of lenders to get the funds they need. If someone needs to consolidate their debts into one and have the repayments lowered due to lower interest rates, they will also have the added benefit of being able to negotiate the repayment period to whenever it is most convenient. Non-traditional lenders have taken to new technology very quickly and the big banks are just starting to catch up.

The future of banking like mortgage loans to debt consolidation loans in Australia is going to be online and performed through non-human avatars that are battling to give the consumer the lowest possible rates and the most competitive options. The public will be the ones to benefit in the future of banking by having more options online and also having the added benefit of not having to pay for extra service fees. The new banking systems in the future will have to offer rock bottom cost and top quality services because of the competition.

Debt consolidation loans are the type of loan that is on high demand in Australia since most people have multiple debts and they find it hard to make punctual payments. Non-bank lenders that offer debt consolidation loans attract the majority of customers due to their presence online. Australian Lending Centre is the leading debt consolidation loan provider in Australia, extending their helping hand across the country. So fill in the quick enquiry form to apply for a debt consolidation loan online and one of the friendly financial experts at Australian Lending Centre will be in touch to help approve your loan as soon as possible.

Tax Debt Loans & Relief

Business Owners: Done With Dirty Tax Debt

[fusion_text]Tax season is a nail biter this year for many Australians. Through the year, business runs as usual, and then the bill comes. Like the end of a five-course dinner, the ATO check drops. OH MAN – There is no way that is payable unless you want to skip employee pay checks this month – as tempting as that is. Don’t let it sit and fester, seek a tax debt loan solution!

Don’t feel alone, the tax burden this year is heavy for many Australians. Particularly for small business owners who are unaware of the tax loop holes that the larger companies use. Yeah the big guys are making more than you and paying less for it, hmm, that seems unfair.

The regulations that are in place create an unfair market place for small to medium businesses. With the current tax laws, big companies are paying an effective tax rate of 10 percent or less. Nobody likes tax, but even more, nobody likes to know that the big business bullies are practicing tax avoidance and creating an unfair, noncompetitive market place. This is in spite of various business groups who have cautioned the Federal Government against routine tax avoidance for the effects it could have on the economy.

Company directors experience tax debt difficulties for many reasons, ranging from late debt payments, lack of tax insight, to poor advice from experts. Don’t let yourself drown in tax debt, there are many off ramps, including tax debt loans. Work with experts who have an extensive network of private funding at their disposal. We know tax debt loans and want to help you make the business tax cutoff on October 31st!

If you find yourself in this situation, reach out to the business loans experts, and avoid the stress this season. Hear how we worked with Alan, an Australian small business owner, helped him pay off his tax debt and return to a positive balance sheet.

Tax Debt Loans Saved Alan’s Business

He first set out to approach his business bank for a loan; however, they would not touch him, because:

  • He had defaulted on a loan
  • He had no business savings
  • He had a large tax debt

All of the factors combined to result in a rejection to his loan application. Just like his primary business bank, all the other banks declined his loan applications as well.

He was amazed to find that the Australian Lending Centre offered an ideal solution for his needs. We help business owners pay off their tax debts by understanding the small businesses circumstances and tailoring tax debt loans to their individual cash flow needs.

After calling our offices and speaking to a friendly consultant, Alan was able to secure a business tax debt loan that not only provided him with the funds to cover his tax debts he could also pay wages this month.

This approach helped Alan to get rid of the tax debt that was weighing heavily on his shoulders and to put the business back into profitability. Tax debt loans saved the day and his employees rejoiced as they were handed the paycheques they deserve.

Take Advantage of Tax Debt Loans

If you are struggling to repay your tax debt, apply for a business tax debt loan from the Australian Lending Centre.[/fusion_text]

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Thinking of Starting a Business?

25 June 2010

Thinking of starting a small business? Once you have decided to start your own business, there are many steps required to get your concept up and running.

Before you even set the wheels in motion you should find out if people are interested in buying your products or services. Find out who your competitors are and whether the market can sustain your business.

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Struggling Small Business Can Survive

Struggling small businesses in Australia are continually finding themselves in a questionable position with the current financial standings for Australia. Their optimism and outlook for the current year are looking bleak due to interest rates creeping up and a strong exchange rate. Additionally, the floods and cyclones have created a point of no return for many businesses around Australia.

Struggling Small Business Statistics

In a recent report among some small and medium enterprises, researchers found that optimism had dropped 41% to just 38% from the previous year. This decline in confidence has caused many small businesses to act cautiously and begin reevaluating the year ahead.

Increase in the Exchange Rate Can Help Struggling Small Business

As there has been an increase in the exchange rate for the Australian Dollar, a majority of the exporters are finding large losses in their financial statements, due to international importers finding their goods elsewhere or reducing the quantity they require from Australia to get more bang for their buck. With the forecast on the American Dollar staying low – there seems to be no hope in sight for Australian exporters. In response to these findings, Australian businesses are exploring new markets to enter or new products to provide to the Australian market.

A Struggling Small Business Might Look Into Short Term Loans

A great option to consider for recovering from the economic and environmental issues is a short term business loan. At Australian Lending Centre, we provide short term business loans which can provide the necessary funding to get small businesses through this rough period. Typically, our loan terms cover a period of as little as a couple of weeks, up to a year and we also have options available where you’re not required to make any repayments until the end of the loan term.

Short term business loans are ideal for:

  • Improving cash flow (working capital)
  • Purchasing business supplies, vehicles or office equipment
  • Paying wages
  • Paying off business debts
  • Starting up a neaw business or expanding an existing area of your current business
  • Paying your tax debts – e.g. business GST, staff PAYG obligations or superannuation payments
  • Taking business trips

A short term business loan can support struggling small business providing many benefits apart from the repayment flexibility such as a quick approval and funding turn around. If your business is finding itself in a tight spot, contact Australian Lending Centre and speak with a business loan consultant today on 1300 138 188. Alternatively, fill out the enquiry form to the right and a short term business loan consultant will contact you shortly.