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Australian small businesses are under increasing pressure as tax debt continues to drive a surge in calls to financial helplines.
New data shows demand for small business debt support rose sharply over the past year, with most callers seeking help to manage outstanding tax obligations.
The ATO says unpaid tax has reached record levels and reducing tax debt is now a key priority, with stronger enforcement tools being used where businesses fail to engage.
Financial counsellors report many owners are facing a combination of rising costs, existing loans and ongoing cash flow strain, leaving little buffer to absorb tax arrears.
Interest charges and compliance action can cause debts to grow quickly, adding further pressure and limiting access to finance.
With stress levels rising across sectors such as construction, hospitality and personal services, the data highlights how widespread these challenges have become for small businesses navigating a tough operating environment.
A trusted accountant can help you assess your position, prioritise obligations and put a realistic plan in place before problems compound.
#accountant #tax #taxdebt
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