ATO debt not slowing this business down

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A vegetation management company used existing assets to repay ATO Debt

A vegetation management company had a very profitable year last year and their PAYG Instalments weren’t sufficient to cover the tax owing on their recently lodged FY16 Tax Return, leaving them with $325K owing and potential penalties and interest accruing daily.

 

Classic Solution

  • Required funds were raised through a Sale Back of existing equipment (a mix of unencumbered assets & assets under finance with less than 12 months left to run).
  • $325,000 Secured Loan facility (Chattel Mortgage).
  • Repayments structured over a 5 year term with nil balloon.
  • 10 day turnaround including approval, documentation, equipment inspections and settlement.

 

Don’t let ATO Debt detrimentally affect your business, speak to us about a finance solution that suits your business.

 

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