Businesses being chased by the ATO for tax debt are increasingly turning to rescue programs to save their companies from financial ruin, latest data shows.
Alares Monthly Credit Risk Insights author Patrick Schweizer said the ATO was working through a record amount of outstanding tax debt of more than $50bn and this was driving small businesses into Small Business Restructuring plans (SBR) and larger businesses into voluntary administration.
“Our April report shows that insolvencies…
