We get it - tax bills can hit hard, especially as we move through another key point in the financial year. If you’re a business owner or self-employed, all this talk of deadlines and ATO notices can make anyone a bit twitchy. But here’s the thing: you have options, and help is just a phone call (or email) away.
Key BAS and Tax Return Deadlines
We’ve just passed the 15 May deadline for lodging FY24 business tax returns. If you’re only now seeing your tax bill, you might also be facing another big due date: March quarter BAS payments, which are due by the end of May.
Having both these payments fall together can really squeeze your cash flow. If covering these tax bills is putting strain on your business, BlueRock Finance can help you look at practical ways to manage your payments so you can keep things running smoothly.
New ATO Rules Affecting Tax Debt Deductions
Starting 1 July 2025, there’s a major change coming. Businesses will no longer be able to claim income tax deductions for ATO general interest charges. That means any general interest charges on unpaid ATO debts will become more expensive (and less tax-effective). If you’re carrying ATO debt, now’s the time to have a strategy in place.
Need a plan? Our tax experts are across these new changes and can explain what this means for your bottom line.
Why Talk to BlueRock’s Finance Broking Team?
Here’s the good news...there are real ways to ease the tax debt burden. Refinancing your ATO debt into a business loan can:
- Lower your ongoing interest costs
- Let you claim business-related loan interest as a deduction (unlike ATO interest)
- Help you manage cash flow with fixed or flexible repayments
Our finance brokers specialise in finding funding solutions for business owners. Whether you’re after short-term working capital or a larger facility to clear the slate, we’ll hustle to find the best fit so you can get back to business.
Don’t Ignore the ATO! They’re Ramping Up Enforcement
We’re seeing a big push from the ATO to pursue outstanding debts. Leaving things unresolved isn’t just stressful - if unpaid, tax debts can be reported to credit agencies. That can damage your ability to borrow money and even impact your relationships with suppliers.
The best way forward? Get on the front foot. We help clients restructure ATO debts and negotiate with lenders, so you can stay in control rather than playing catch-up.
Worried About Tax Debt? Let’s Chat Solutions
Whether you’ve been stung by an unexpected bill, have ongoing BAS obligations, or just want to get your ducks in a row before tax changes hit, the BlueRock Finance team is here for you. We’ll help you:
- Understand your options for paying down ATO debts
- Navigate changes to ATO interest deductibility
- Access working capital or business loans that make sense for you
- Plan for the future (not just the next deadline)
Tax debt doesn’t need to derail your plans—or your peace of mind. Reach out to the BlueRock team today. Let’s take the pressure off so you can get back to what you do best: running and growing a brilliant business.
